BF Biosciences Limited has informed the Pakistan Stock Exchange that its founding chief executive, Akhter Khalid Waheed, will step down at the end of this year, with the company appointing Muhammad Farhan Rafique as its new Chief Executive Officer.
According to the notice submitted to the PSX, Mrs. Akhter Khalid Waheed will cease to hold the office of Chief Executive Officer with effect from December 31, 2025. The company said the decision forms part of a planned leadership transition.
The Board of Directors, in an emergent meeting held on December 19, formally accepted her resignation and placed on record its appreciation for her leadership and contributions to the company.
Following a recommendation from the HR and Remuneration Committee, the Board approved the appointment of Muhammad Farhan Rafique as Chief Executive Officer with effect from January 1, 2026.
Mr. Rafique has been associated with BF Biosciences as Chief Operating Officer, where he played a key role in implementing major strategic initiatives. These included overseeing the company’s brownfield expansion, supporting its initial public offering, and leading digital transformation across operations.
With more than 14 years of experience in the pharmaceutical industry, he has held multiple leadership roles and brings operational and strategic experience to the top role.
The Board said it was confident that the new appointment would ensure continuity of leadership and support the company’s future growth, building on the foundation laid by the founding chief executive.
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