KARACHI:
Asif Saad’s departure from the boards of Engro Corporation was announced on Thursday, stated local media sources.
Saad took an early retirement as CEO of Lotte Chemical Pakistan in May 2014 after remaining in office for eight years.
“This hasn’t come as a shock to us,” said an official who has worked with him. “A man of his experience was definitely underutilised in the group. He used to give a lot of interesting suggestions during board meetings especially when it came to Engro Foods. But his involvement was limited.”
Others even touted him as a potential candidate for the coveted CEO’s seat at Engro Corporation that is now occupied by Khalid Siraj Subhani.