Waqar Malik, the chief executive officer of ICI Pakistan, has announced that he will be stepping down from his position as CEO of the company, according to a notice sent to the Karachi Stock Exchange on Thursday.
Waqar Malik was appointed as the chief executive of ICI Pakistan Limited on October 1, 2005. He will leave the office with effect from December 27, 2012 after 27 years of service with the ICI Group. He also decided to step down from the board of ICI Pakistan and the board of its subsidiary ICI PowerGen.
As reported by the Express Tribune, the chairman of ICI Pakistan said in an official statement that Malik transformed the corporate culture of ICI Pakistan and achieved remarkable success for the company, its employees, and shareholders in very challenging times over the last seven years, he said.