Pakistan Stock Exchange Limited (PSX) has announced the election of Ruhail Mohammad as the new Chairman of its Board of Directors, following the death of former chairperson Dr Shamshad Akhtar.
The decision was confirmed through an official disclosure issued by the exchange on Monday. According to the announcement, Ruhail Mohammad will serve as chairman for the remainder of the current board’s term, in line with applicable legal and regulatory requirements.
Seasoned corporate leader
PSX records show that Ruhail Mohammad brings more than 35 years of professional experience spanning general management, corporate strategy, business development, financial planning, and human capital leadership. His career includes senior leadership roles across multiple sectors, particularly energy, power generation, chemicals, and fertilizers.
He currently serves as Chief Executive Officer of Lucky Electric Power Company Limited — a 660-megawatt independent power producer and a subsidiary of Lucky Cement.
Before joining Lucky Electric, Ruhail Mohammad was the CEO of Hub Power Holdings Limited, a subsidiary of HUBCO, the country’s largest independent power producer.
Earlier in his career, he served as Chief Executive Officer of Engro Fertilizers from 2012 to 2018, where he played a key role in operational leadership and long-term strategic planning.
Extensive board-level experience
In addition to executive roles, Ruhail Mohammad has held numerous board positions across Pakistan’s corporate and institutional landscape. He has served as a board member of Engro Corporation and its subsidiaries, K-Electric, NBP Funds, the Pakistan Institute of Corporate Governance, the British Overseas School, and the KP Energy Board (PEDO).
He has also previously served as Chairman of the Pakistan Mercantile Exchange Limited, further strengthening his credentials in market governance and financial oversight.
Transition after Dr Shamshad Akhtar’s passing
The appointment follows the passing of Dr Shamshad Akhtar last month at the age of 70. She was widely respected for her contributions to Pakistan’s economic and financial institutions, having served as caretaker federal minister for finance and Governor of the State Bank of Pakistan.
Her leadership at PSX was regarded as instrumental in promoting sound governance and financial stability.
Other board matters
Separately, the PSX Board also discussed the resignation of Dr Fakhara Rizwan, who stepped down from her role as Corporate Secretary and Chief Governance, Legal and Corporate Affairs Officer of the exchange.
The election of Ruhail Mohammad comes at a time when Pakistan’s capital markets are navigating renewed investor interest, regulatory reforms, and evolving corporate governance expectations.
