Fauji Foundation Appoints Retired Army Officer As Chairman After Civilian

Fauji Foundation has appointed retired lieutenant general Anwar Ali Hyder as the new Director and Chairman after four years of first civilian CEO Waqar Ahmed Malik. “We have to inform you that Mr. Waqar Ahmed Malik, Director/Chairman has ceased to be the Director/Chairman of the Company w.e.f. 05-04-2024 and Lieutenant General Anwar Ali Hyder, HI(M) (Retd) has been appointed as Director/Chairman,” a stock filing by Fauji Fertilizer Company Limited (PSX: FFC) said on Monday. Besides FFC, Lt. General Anwar Ali Hyder (Retd) is now chairman of the Fauji Group of Companies, and Managing Director & CEO Fauji Foundation. After nearly four years as a civilian CEO and managing director of the company, Waqar Ahmed Malik is stepping down. His tenure saw improvements in several of the company’s publicly listed firms, notably Fauji Foods, which turned profitable under his leadership. Several publicly listed companies within the Fauji Foundation have experienced improved performance under Waqar’s leadership, notably Fauji Foods, which achieved profitability for the first time in years and enhanced margins despite a downturn among its competitors. But this wasn’t enough to give Waqar an extension. Malik’s strategy involved bringing industry professionals into key roles and essentially replacing military management. However, despite these successes, FFC is now back under ex-serviceman. The new chairman, Lieutenant General Anwar Ali Hyder (Retd), known for his active roles in various government bodies, now takes the helm. Malik’s departure raises questions about the future direction of the Fauji Foundation after a change of leadership. The associated companies under Fauji Foundation are as follows: