RAWALPINID: Fauji Foundation has appointed Lieutenant General (R) Anwar Ali Hyder as the new Director and Chairman. Waqar Ahmed Malik, who became the first civilian CEO and Managing Director (MD) of the Fauji Foundation four years ago is on his way out.
Several publicly listed companies within the Fauji Foundation saw gains during Waqar Malik’s tenure, most notably Fauji Foods, which became profitable under his direction.
Notably, Fauji Foods has increased margins and became profitable for the first time in years, even as its competitors have endured a downturn. However, Waqar was not granted an extension based on this.
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Fauji Fertilizer Company Limited on Monday in a statement said, “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.”
In addition to the FFC, Lt Gen. Anwar Ali Hyder (Retd.) is also the chairman of the Fauji Foundation and the Managing Director & CEO of the Fauji Group of Companies.
Lieutenant General Anwar Ali Hyder (Retd), who has been involved in numerous government committees, is the new chairman. Following a change in leadership, Malik’s resignation raises concerns about the future course of the Fauji Foundation.
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