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Karachi, In a significant meeting held on Friday, August 25, 2023, at 11:30 AM, The Pakistan General Insurance Company Limited’s (the Company) Board of Directors has taken several important decisions, reflecting the company’s strategic vision and operational adjustments:
1. Appointment of Chief Executive Officer: Mr. Abdul Haseeb Fakih assumes the role of the new Chief Executive Officer, effective from August 25, 2023, until the next election of the Board.
2. Constitution of Committees: The Board has established two pivotal committees: The Board Audit Committee and the HR and Remuneration Committee.
3. Change of Registered Office Address: The Registered Office address has been updated to LSE Plaza, 19-Kyaban-e-Aiwan-e-Iqbal, Lahore.
The forthcoming Extraordinary General Meeting will witness key deliberations:
4. Increase of Authorized Capital: A proposal to elevate the Authorized Capital from Rs. 500.00 million to Rs. 600.00 million will be presented for shareholders’ approval.
5. Approval of Business Revival Plan: The Board has greenlit a comprehensive Business Revival Plan. This plan, subject to requisite approvals from shareholders, will be submitted to the SECP to lift the license suspension. The Extraordinary General Meeting scheduled for September 30, 2023, will provide the platform for shareholders to weigh in on this pivotal step.
The company will ensure timely dissemination of the approved Notice of Extraordinary General Meeting and accompanying statements, keeping stakeholders well-informed.
The post The Pakistan General Insurance Company Announces CEO Appointment, Committee Formation, and Upcoming EGM Agenda appeared first on Pakistan Company News.