Descon CEO quits own company, becomes PM’s aide

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LAHORE: Descon Engineering Limited’s chairman, Abdul Razzaq Daud, today resigned from his own company to join the incoming government on the special request of Imran Khan for the post of Advisor to the Prime Minister for Commerce and Industry.

Abdul Razzaq Daud has set an unprecedented an example for others to follow to negate the conflict of interest that a public office holder cannot run his own private company.

In an email to the company’s leadership, he said, “As discussed with the Board and the leadership team, i have accepted an offer from the government to join the new Cabinet. In compliance with the relevant regulations, I will completely disassociate myself from the business and as a consequence, will resign from the Board Memberships, and will relinquish my role as the Chairman and CEO of Descon Engineering”.

He further added, “It has always been my desire to put in place the necessary structure to make Descon an institution which will last from generation to generation. I and the BOD of Descon, believe that in order to achieve this goal, the responsibility of the leadership of Descon Engineering would be best served by a professional manager and ‘not’ a member of the family. Therefore i have tasked the board to seek and replace a suitable candidate who will replace Faisal Dawood as the CEO for Descon Engineering in one year’s time”.

 

7 COMMENTS

  1. Legendry Razzaq Daud is highly respected Corporate Manager & philonthiropist in Efucation sector. Has built formidable Economic Power house Descon & an iconic acedemic institution “Suleman Daud” School under LUMS. Its prudent decision as he is of moderate nature personality rather than a reformist/revolutionist. Best of wishes

  2. Our prayers and best wishes for Abdul Razzaq Daud sb for better future of Pakistan’s next generation. We hope Razzaq sb presence in new role will definite create a difference which was never happen before.
    Razzaq sb wonderful Leadership abilities and great vision will be advantage for the cabinet members to establish the beneficial strategies for the nation of Pakistan.

    All the best and may Allah protect you with his blessing.

  3. Regretfully and surprisingly to note that in the previous history of Pakistan governance, all those exprtise who joined Govt one way or the other, while excelling in their own businesses progressing by leaps and bounds, could not make much difference in sailing the govt affairs. This narrative call for thinking by the think tank. However, we wish Abdul Razak Daud great success and his meaningful contribution in his assignment. Regards.

  4. A Person can resign from his own company but can never leave the company and his interference will always remain in the company because it is the asset of his family or on the other hand if a person who nominated CEO of that company will be his close relative and maybe from his family. we can say that nobody can stop anybody to take advantages of the post…

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