KARACHI: Thatta Cement Company Limited has informed the Pakistan Stock Exchange (PSX) about a key management change, announcing that its Chief Financial Officer (CFO), Muhammad Owais, has stepped down from the position.
In a material information notice submitted to the exchange, the company stated that Muhammad Owais has ceased to serve as CFO with immediate effect. The announcement was made in accordance with the applicable provisions of the PSX Rule Book and the Securities Act, 2015.
Thatta Cement further disclosed that it has already initiated the process of appointing a new Chief Financial Officer. The company said the necessary formalities are currently underway and assured stakeholders that the Pakistan Stock Exchange will be notified once the appointment process has been completed.
The company did not disclose the reason behind the departure or provide a timeline for the appointment of the new finance chief. However, it emphasized that the transition is being managed in line with regulatory requirements to ensure continuity in its financial leadership.
Corporate leadership changes, particularly in senior financial roles, are considered material information as they can influence governance, financial oversight, and investor confidence. Companies listed on the PSX are required to promptly disclose such developments to maintain transparency and keep shareholders informed.
Thatta Cement said it will make a further announcement once the new Chief Financial Officer has been formally appointed.
