Ibrahim Fibres Limited has announced key changes in its senior management and board of directors, the company disclosed in a notice to the Pakistan Stock Exchange on Monday.
According to the notice, Mohammad Naeem Mukhtar, who was serving as Chief Executive Officer and Executive Director, has been redesignated as a Non-Executive Director and appointed Chairman of the Board. He succeeds the late Sheikh Mukhtar Ahmad.
Muhammad Waseem Mukhtar, previously serving as Executive Director, has been appointed as the new Chief Executive Officer in place of Mohammad Naeem Mukhtar.
In another change, Abdul Hameed Bhutta, who was serving as a Non-Executive Director, has been redesignated as an Executive Director of the company.
The notice further stated that Mohammad Waqar has been co-opted to the board as a Non-Executive Director for the remaining term to fill the casual vacancy created due to the passing of Sheikh Mukhtar Ahmad.
Ibrahim Fibres Limited was incorporated in Pakistan in 1986 as a public limited company. The company is engaged in the manufacturing and sale of polyester staple fibre and yarn, and is a key player in the local textile sector.
