The Board of Directors of Wafi Energy Pakistan Limited (formerly Shell Pakistan Limited) has appointed Zubair Shaikh as the interim Chief Executive Officer (CEO), effective February 1, 2025. The announcement was made in a filing to the Pakistan Stock Exchange (PSX) on Wednesday.
The company also confirmed that Waqar I. Siddiqui, the current CEO, will step down from his position on January 31, 2025. “Further to our announcement dated October 10, 2024, we would like to inform you that Waqar I. Siddiqui will step down as Chief Executive Officer of Wafi Energy Pakistan Limited on January 31, 2025,” the company stated.
This leadership change comes just a day after the company officially rebranded as Wafi Energy Pakistan Limited, following its acquisition by Wafi Energy Holding Limited. The acquisition process, initiated through a Share Purchase Agreement on October 31, 2023, saw Wafi Energy Holding Limited acquire 87.78% of Shell Pakistan’s issued share capital, equivalent to 187,866,141 ordinary shares.
