Wafi Energy Pakistan Limited (formerly Shell Pakistan Limited) announced on Wednesday that its current Chief Executive Officer, Waqar I. Siddiqui, will step down from his role on January 31, 2025.
The Board of Directors has appointed Zubair Shaikh as the interim CEO, effective February 1, 2025, according to a letter to the Pakistan Stock Exchange (PSX).
This leadership transition comes shortly after the company completed its rebranding from Shell Pakistan Limited to Wafi Energy Pakistan Limited. The change follows the acquisition of an 87.78% stake in the company by Wafi Energy Holding Limited under a Share Purchase Agreement finalized on October 31, 2023.
The rebranding was approved by company members during a meeting on November 27, 2024, and officially took effect on January 13, 2025, after the Securities and Exchange Commission of Pakistan (SECP) issued a Certificate of Incorporation confirming the new name.
The company has requested the PSX to inform TRE Certificate Holders about the leadership change, signaling a new phase of operations under its rebranded identity and interim leadership.
