Lahore: CEO of one of the premier paint manufacturing companies, AkzoNobel Pakistan Limited, Jehanzeb Khan is all set to retire from his position on Nov 18. The AkzoNobel board has appointed Saad Mahmood Rashid, previously the business manager for decorative paints in the company since Oct 2014 has been appointed the new CEO.
Mueen Afzal, AkzoNobel’s chairman and the board of directors, in a letter notifying the appointment, said, “We thank Jehanzeb Khan for his commitment, professional excellence, and leadership during his tenure with the company.”
Acknowledging Saad’s contribution, the notification read, “Under his leadership, the business has shown a favourable development” in the area of decorative paints.
Having started his career with ICI Pakistan in Nov 1983, Jehanzeb took over as AkzoNobel Pakistan’s CEO in August 2011. In ICI, he had served in various sales and marketing roles, and afterward in managing businesses. His commercial experience spans a vast array, in pharmaceuticals, agrochemicals, polyester fibers, specialty chemicals, and paints industries, along with working with international companies engaged in business in Pakistan.
As AkzoNobel CEO, in 2012, Jehanzeb led his team in demerging the paints business from ICI Pakistan, and in the same year established AkzoNobel Pakistan as an independent public listed company. In his six years and a bit as the CEO, Jehanzeb has guided AkzoNobel Pakistan as a prosperous and thriving entity – in the process creating value for stakeholders.
His replacement, Saad Mahmood, has 16-year experience behind him across several industries and geographies. Before joining AkzoNobel, an MBA from IBA Karachi, Saad had held various commercial positions at Reckitt Benckiser South Africa, Pepsi Cola International, Pakistan Tobacco Company (BAT) and Ceylon Tobacco Company (BAT).
At the time of filing this report, the share price of Akzo Nobel Pakistan was trading at Rs 188 down by Rs2.18 (1.15 pc).
