Fauji Foundation has appointed retired lieutenant general Anwar Ali Hyder as the new Director and Chairman after four years of first civilian CEO Waqar Ahmed Malik.
“We have to inform you that Mr. Waqar Ahmed Malik, Director/Chairman has ceased to be the Director/Chairman of the Company w.e.f. 05-04-2024 and Lieutenant General Anwar Ali Hyder, HI(M) (Retd) has been appointed as Director/Chairman,” a stock filing by Fauji Fertilizer Company Limited (PSX: FFC) said on Monday.
Besides FFC, Lt. General Anwar Ali Hyder (Retd) is now chairman of the Fauji Group of Companies, and Managing Director & CEO Fauji Foundation.
After nearly four years as a civilian CEO and managing director of the company, Waqar Ahmed Malik is stepping down. His tenure saw improvements in several of the company’s publicly listed firms, notably Fauji Foods, which turned profitable under his leadership.
Several publicly listed companies within the Fauji Foundation have experienced improved performance under Waqar’s leadership, notably Fauji Foods, which achieved profitability for the first time in years and enhanced margins despite a downturn among its competitors. But this wasn’t enough to give Waqar an extension.
Malik’s strategy involved bringing industry professionals into key roles and essentially replacing military management. However, despite these successes, FFC is now back under ex-serviceman.
The new chairman, Lieutenant General Anwar Ali Hyder (Retd), known for his active roles in various government bodies, now takes the helm. Malik’s departure raises questions about the future direction of the Fauji Foundation after a change of leadership.
The associated companies under Fauji Foundation are as follows:
Fully owned
- Fauji Cereals
- Foundation Gas
- Overseas Employment Services
- Fauji Foundation Experimental And Seed Multiplication Farm
Subsidiaries
- Fauji Fertilizer Company Limited (FFC)
- Fauji Fertilizer Bin Qasim Limited (FJFC),
- Fauji Cement Company Limited
- FFBL Power Company Limited (Fauji Power Company Ltd) FPCL.
- Fauji Kabirwali Power Company Limited
- Foundation Power Company Daharki Limited
- Mari Petroleum Company Limited
- Fauji Institute of Technology
- Fauji Akbar Portia Marine Terminal Limited
- Fauji Trans Terminal Limited
- Fauji Retirement Home
- Fauji Oil Terminal And Distribution Company Limited
- Pakistan Maroc Phosphore, S.A., Morocco
- Foundation Securities (Pvt) Limited
- Askari Bank Limited (acquired from Army Welfare Trust)
- Fauji Meat Limited
- Fauji Fresh n Freeze
- Fauji Infraavest Foods Limited
- FFC Energy Limited
- Fauji Foods Limited
- Foundation Wind Energy – I
- Foundation Solar Energy (Pvt.) Ltd.
- Foundation Wind Energy
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Ye watan tmhra hy . Hum hain khyam khaa is mai .
Waqar Malik is very competent professional who has successfully managing multi national companies. His tenure in ICI before selling to local company ( Tabba group) was remarkable. He not only successfully managed different businesses of ICI but in my opinion his exceptional performance was to produce/ trained so many youngsters as competent/ capable professionals in different fields of businesses.
I was working with local company that was in competition with ICI in one of the businesses. Man power of ICi was one fifth of our Saith company but ICi personnels were always much more aware and smart about their business.
Waqar Malik may not be the only capable business manager of our country but one thing is clear ,managing and running companies is an art and only professionals can manage it.
Companies under fauji foundation has the added advantage that govt departments like tax, excise, labor, etc. and dons of the areas can not bother them. They have working capital at their disposal but still you can not beat professionals.
Koee banday Ka putter AWT mein bhi lae aatay, intehaaee kanjoos MD lae hein Jo khud tau pension bhi enjoy Ker rahae hein magar civilians ki roti bhi bund Ker Dee! Eid per sirf half bonus
Overseas Employment Services? Does that mean they are work as recruiters/commission agents for the Pakistanis that work in abroad (gulf countries)?
Good decision. Now all associated companies will be in one line.
Loss Loss Loss
Marry howy fajion ko bi laa ky betha do kissi aysi position pe. Ye 10 psaa ya chalien gy company.
Aur
Universitian band kr do aur sab fouj mein jio q k taraqi to fouji he ny pani hai, retirement ky baad bi wo caahy job sy ho ya dunya sy
Laanat beshumar
Chalen acha hai …yeh to inki apni organization hai…
Vese public and private sector me b sab yahi retired army staff betha hai
The only power jiska koi kuch ni bigar Sakta or jinki naslen ayashi kr rhi hain awam k pesy or haq par
Good decision to appoint ex army general as CEO of FFC
Last civilian CEO and MD spoiled company professionals due to bad management.
Appoint a military background man at any organization and see the disaster happening in front of your organization. It has happened at numerous occasions. Some people are good for nothing, not even for their original jobs.