PTA Survey Shows SCOM Leads AJK, GB Network Quality
September 22, 2026
Engro Corporation has appointed former Careem Pay executive Junaid Iqbal as President and CEO-designate, with him set to succeed Ahsan Zafar Syed after the completion of his current term in April 2027.
Engro Holdings Limited has announced that Junaid Iqbal has been approved as the successor to Ahsan Zafar Syed as President and CEO of Engro Corporation, with the leadership transition scheduled for April 2027.
According to Business Recorder, the Board of Directors of Engro Corporation, a wholly owned subsidiary of Engro Holdings, approved Iqbal’s appointment as President & CEO-designate. Iqbal currently serves as Advisor to the CEO of Engro Holdings and will assume the top executive position after Syed completes his current term.
ProPakistani that the appointment is part of Engro’s succession planning and follows the company’s announcement to prepare Iqbal for the next phase of leadership.
Engro said Iqbal has experience in building, scaling and transforming businesses across complex markets. During his time at Careem, he scaled the company’s Pakistan operations, led its Saudi Arabia market and later served as Managing Director and Global Head of Careem Pay.
The company also highlighted his earlier role as CEO of Elixir Securities, where he helped reposition the business and worked on privatisation transactions, including the government’s sale of a 40% stake in Habib Bank Limited.
Engro said, “At Careem, he scaled the Pakistan business, led the Saudi Arabia market, and later served as Managing Director and Global Head of Careem Pay.”
Ahsan Zafar Syed will continue serving as President and CEO of Engro Corporation until the completion of his current term. During his tenure, the company highlighted several developments, including the Supplemental Implementation Agreement for EVTL, the reintegration of thermal assets into its portfolio and transactions involving Deodar and Engro Polymer & Chemicals Limited.
Following the completion of his term, Syed will be elevated to the position of Counsel to the Chairman of Engro Holdings.
The company said the transition period would allow Iqbal to work closely with Engro’s businesses and operations before formally assuming the CEO position.
“The coming months will support a structured and seamless leadership transition,” the company said.
During this period, Iqbal is expected to engage with Engro’s businesses and contribute to strategic priorities under Syed’s mentorship before taking over the position in April 2027.
The appointment has also been disclosed through a notice to the Pakistan Stock Exchange, with the transition subject to the relevant board process following the April 2027 election of directors.
