Co-option of new directors on ENGRO’s board – Alfalah Securities Limited

Karachi, July 16, 2012 (PPI-OT): Two new directors namely Mr. Afnan Ahsan and Mr. Sarfaraz A. Rehman, have co-opted as directors on the board of Engro Corporation (ENGRO) in place of Mr. Asad Umar and Mr. Khalid Mansoor.

According to Alfalah Securities Limited, the new directors will fill the casual vacancies due to the departure of the two directors, as per the KSE Notice. It is yet to be seen whether the new directors would be able to bring the conglomerate back on growth track and manage to minimize the uncertainties in the company’s outlook.