Waqar I. Siddiqui has made the decision to “resign” from Shell Pakistan Limited’s Chief Executive Officer (CEO) role. The Pakistan Stock Exchange (PSX) received notification of the development from the listed business on Thursday.
The notification said, “We would like to inform you that Shell Pakistan Limited’s Chief Executive Officer, Waqar I. Siddiqui, has announced that he plans to step away from his role as Chief Executive Officer of the organization.”
It further stated, “He will remain the company’s chief executive officer until his successor is named in the course of things.”
Siddiqui was named CEO and Managing Director of Shell Pakistan Limited back in 2021.
Siddiqui began working with SPL in 2001 and had high leadership roles both domestically and abroad. Since 2019, Waqar has served as a director on the SPL board.
SPL is a division of United Kingdom’s Shell Petroleum Company Limited, a division of one of the biggest oil and petrochemical corporations in the world, Royal Dutch Shell Plc. The firm mixes and sells a variety of lubricating oils in addition to selling petroleum products and compressed natural gas (CNG).
In the three months that concluded on June 30, 2024, SPL reported a profit of Rs1.13 billion, according to the company’s most recent financial statements.
In July of last year, SPL declared that Shell Petroleum Company Limited (SPCo), the company’s parent, had given notice of its intention to sell its stake in SPL.
