January 06, 2026 (MLN):  Pakistan Stock Exchange Limited (PSX) has elected Mr. Ruhail Mohammad as Chairman of the Board for the remainder of the current term, following the sad demise of former Chairperson Dr. Shamshad Akhtar.

This decision was taken in accordance with applicable legal and regulatory requirements at a Board meeting, according to a press release issued.

The Board paid tribute to Dr. Shamshad Akhtar, placing on record its highest appreciation for her exemplary leadership and service to the Exchange.

It was noted that she guided PSX through a period of significant challenges with courage, wisdom, and grace, while upholding the highest standards of governance, integrity, and professionalism across Pakistan’s capital markets.

The Board also acknowledged Dr. Akhtar’s visionary contributions to policy formulation and strategic initiatives, particularly her role in advancing Pakistan’s fixed income market, including facilitating the Government of Pakistan’s access to Shariah-compliant government securities.

Expressing deep sorrow over her passing, the Board said she leaves behind a strong and enduring legacy of leadership and service.

As a mark of respect, the Board resolved to name the PSX auditorium the “Dr. Shamshad Akhtar Auditorium” and extended condolences to her family.

Mr. Ruhail Mohammad, the newly elected Chairman, brings more than three decades of senior leadership experience across diverse sectors, with deep expertise in strategic oversight, institutional governance, and organizational development.

He is widely respected for his principled judgement, analytical depth, and people-centric leadership style.

During his tenure on the PSX Board, particularly as Chairman of the Board Audit Committee (BAC), Mr. Mohammad played a key role in strengthening the Exchange’s governance framework, enhancing financial discipline, and reinforcing internal control systems.

He is currently Chief Executive Officer of Lucky Electric Power Company Limited and has held several prominent board positions, including at Engro Corporation and its subsidiaries, K-Electric, NBP Funds, Pakistan Institute of Corporate Governance, and Pakistan Mercantile Exchange Limited, where he previously served as Chairman.

He currently sits on the boards of Lucky Group entities, EFU Life Assurance, Pakistan Stock Exchange, NOWPDP-NGO, and serves as Chairman of Dawood Lawrencepur Limited.

A CFA charterholder, Mr. Mohammad holds an MBA from the Institute of Business Administration (IBA), Pakistan. He has also completed the Advanced Management Program at INSEAD and an agribusiness certification at Harvard Business School.

The Board expressed confidence that under Mr. Ruhail Mohammad’s leadership, PSX will continue to strengthen governance standards, promote transparency, and pursue sustainable growth, while building on the legacy of Dr. Shamshad Akhtar.

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