Shell Pakistan has sent a notification issued to Pakistan Stock Exchange (PSX). In it, it is disclosed that the Chief Executive Officer Jawwad Ahmed Cheema is being transferred to another position, effective from July 1st, 2018.
In his place, the replacement will be announced by Shell Pakistan on 24th April 2018. A board meeting will be held and on its conclusion, the new CEO will be decided and named unanimously.
In 1997, Mr. Cheema became part of Shell Company. He held many senior positions in the company and fulfilled many operations while being part of the company. He gained a broad experience in the retail industry of Pakistan. In August 2016, Mr. Cheema was appointed the CEO/Managing Director of Shell Pakistan. He replaced Omar Sheikh to become the CEO of the company.
Other than this he is also one of the Board of Directors of Pakistan Refinery Ltd., Pak-Arab Pipeline Co. Ltd., Pakistan Centre for Philanthropy, Pakistan Institute of Corporate Governance, Petroleum Institute of Pakistan and The Kidney Centre Post Graduate Training Institute.
In Pakistan, Shell is one of the oldest multinational companies. It has existed in the South Asian region since decades. It is one of the biggest global oil company in Pakistan, having operations in 800 fuel stations all over Pakistan. Furthermore, it is also the biggest Lubricants Marketing Company and second biggest jet-fuel supplier. The main functions of Shell Pakistan are Retail, Lubricants, Business to Business & Aviation, Trading & Supply, and Global Functions – Finance, Corporate, Legal, Human Resources.
Read also: Honda issued a complaint against Shell
In Pakistan, Shell supplies 2.66bn liters of fuel per year. It supplies petroleum products along with compressed natural gas to its customers.
On Friday, Shell Pakistan shares were recorded at Rs348.01 down by Rs4.88 or -1.38%. KSE-100 index was trading at 45,641.41 points, down by 430.45 points or -0.93 percent.