LAHORE: Barely three months into the post, Taimur Dawood has ceased to be the CEO of Descon Oxychem Limited and has been replaced by Imran Qureshi starting June 1st, 2018.
This was revealed in a stock market notification filed on Friday by Descon Oxychem stating “Mr Taimur Dawood, Chief Executive Officer of the Company, has been ceased to be the Chief Executive of the Company w.e.f. 01-06-2018. Mr Imran Qureshi has been appointed as Chief Executive Officer in place of Mr Taimur Dawood w.e.f. 01-06-2018 for the balance un-expired term.”
Prior to this appointment, Imran Qureshi was working as the Managing Director of J&P Coats Pakistan for a period of two years till April 2018.
Having 20 years experience in the chemicals industry, Mr Qureshi has had stints with AkzoNobel Coatings as Business manager performance coatings and worked as a business manager with ICI Paints from February 2011 to December 2014.
Mr Qureshi did his Bachelor of Engineering from NED University, Karachi in 1994 and did his MBA from Southeastern University (Washington D.C.)
Taimur Dawood was appointed as the new Chief Executive officer (CEO) of Descon Oxychem Limited in March replacing Aamir Niazi at the helm.
Outgoing CEO Taimur Dawood earned his bachelor’s degree in industrial engineering from Purdue University, USA and MBA from Columbia University, New York, USA.
Prior to joining Descon, Taimur Dawood worked as an equity analyst at Graham Partners, a technology-focused hedge fund. He also worked at UBS as a technology analyst.
He has over 15 years of work experience in a variety of fields that include product marketing, project finance, strategy development and implementation, turn around management, mergers and acquisitions.
In addition to being on the board of directors of various Descon companies, he was previously serving as the vice chairman of the company.
Descon Oxychem Limited engages in the manufacture, procurement, and sale of hydrogen peroxide and allied products in Pakistan. It provides hydrogen peroxide for use in oxidation reactions; bleaching processes in textile, pulp, and paper industries; wastewater treatment, exhaust air treatment, and for various disinfection applications.
The company shares were trading at Rs19.50, up Rs0.10 (+0.52 percent). And KSE-100 index was trading at 42,818.18 points, down 28.46 points (-0.07 percent) at time of filing this report.
