KARACHI: Pakistan Petroleum Ltd (PPL) has appointed Sikandar Ali Memon as its new chief executive officer (CEO)/managing director (MD), replacing Imran Abbasy, who completed a three-year tenure at the helm.
Memon was the company’s chief operating officer (COO) and will assume charge on September 21, the company said in a filing to the Pakistan Stock Exchange (PSX). .The new CEO is going to hold the post until his retirement or the appointment of a permanent CEO, whichever is earlier. Abbasy will step down on September 20.
Separately, the board approved a final cash dividend of Rs2.5 per share for the year ended June 30, 2025 in its meeting held on Friday (September 19). This is in addition to the interim payouts of Rs5 on ordinary shares and Rs3 on preference shares already distributed this year, said a filing on the PSX. PPL shares on Friday slid 0.34 per cent.
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