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Lahore, The Board of Directors of Allawasaya Textile & Finishing Mills Ltd has made several significant appointments and reconstitutions in their meeting held on May 23, 2024, according to information available from the Pakistan Stock Exchange (PSX). Mrs. Nusrat Jamil has been appointed as the Chairperson of the Company for a three-year term starting May 30, 2024. In addition, Mr. Mohammad Alamgir Jamil Khan will continue as the Chief Executive Officer for another three years from the same date. The shareholders had already approved the remuneration for these positions earlier in the day during an Extraordinary General Meeting (EOGM).
Furthermore, Mian Muhammad Jamil and Mian Idrees Ahmed Sheikh have been appointed as full-time Working/Executive Directors for a three-year period effective May 30, 2024. Their remuneration was also approved in the May 23 EOGM. The Board has been restructured to comply with the Code of Corporate Governance. It now includes Mrs. Nusrat Jamil, Mr. Mohammad Alamgir Jamil Khan, Mian Muhammad Jamil, Mian Idrees Ahmed Sheikh, and other executive and non-executive directors.
Additionally, the Audit Committee has been reconstituted with Mr. Nazir Ahmad Khan as the Chairman and Mr. Abdul Rehman Qureshi and Mrs. Nusrat Jamil as members, effective May 30, 2024. The Human Resource and Remuneration Committee (HR&R) has also been restructured with Mr. Abdul Rehman Qureshi as the Chairman and includes Mr. Muhammad Ashraf Khan Durrani and Mrs. Misbah Idrees Sheikh as members, effective from the same date.