International Steels Limited Appoints Yousuf H. Mirza as Director Amid Board Reshuffling

Karachi: International Steels Limited announced the appointment of Mr. Yousuf H. Mirza as a director of the company, effective immediately. This strategic move fills the casual vacancy left by Mr. Samir M. Chinoy, who resigned as an elected director but will continue as Chief Executive Officer and deemed director as per section 188(3) of the Companies Act 2017.

The company’s board of directors reached this decision following Mr. Chinoy’s transition to a more focused executive role, which was publicized on October 1, 2024. Mr. Chinoy’s new position aligns with the operational needs of International Steels Limited, ensuring continuity in leadership and strategic oversight.

According to information available from the Pakistan Stock Exchange (PSX), International Steels Limited remains a pivotal entity in the steel production sector, contributing significantly to the industrial framework of Pakistan. The appointment of Mr. Mirza is expected to bring fresh perspectives to the board and bolster the company’s governance and strategic initiatives.

Stakeholders, including TRE Certificate Holders of the Exchange, have been informed about these developments, ensuring transparency and adherence to regulatory requirements. This adjustment in the board’s composition is seen as a positive step towards strengthening the company’s leadership structure in response to evolving market dynamics and internal corporate strategy.

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