PAKISTAN
SG Power Limited has appointed Umer Ali Malik as its Chief Executive Officer with immediate effect, the company informed in a notice to the Pakistan Stock Exchange.
The appointment, made by the Board of Directors in line with Section 96 of the Securities Act, 2015 and relevant PSX regulations, reflects the company’s focus on driving strategic growth, operational excellence, and enhancing shareholder value.
As part of its broader transformation strategy, the Board has tasked the newly appointed CEO with developing and presenting a comprehensive, future-focused business plan. The plan is expected to outline a clear roadmap for transitioning the company from its current operations to a scalable, high-growth model aligned with emerging market opportunities and long-term sustainability.
In addition, the CEO has been authorized to explore strategic capital initiatives, including equity-based fundraising, strategic partnerships, and other financial structuring options aimed at strengthening liquidity and supporting the company’s transformation.
The Board and management have expressed alignment in their vision to reposition the company as a forward-looking organization with strong fundamentals, improved governance, and a clear pathway to sustainable profitability and value creation for shareholders.
The company reaffirmed its commitment to transparency and stated that it will keep the Exchange informed of all material developments in due course. – ER News Desk
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