The Board of Directors of Pakistan Stock Exchange Limited (PSX) elected Ruhail Mohammad as Chairman of the Board for the remainder of the current term, following a board meeting.
The appointment was made in accordance with applicable legal and regulatory requirements to fill the vacancy created by the passing of former Chairperson Dr. Shamshad Akhtar.
The Board paid tribute to Dr. Shamshad Akhtar by adopting a formal condolence resolution, placing on record its highest appreciation for her leadership during a period marked by significant challenges.
It was noted that Dr. Akhtar played a key role in shaping policy and strategic initiatives that materially transformed the fixed income segment of the market, including facilitating the Government of Pakistan’s access to a new source of funding through the issuance of Shariah-compliant government securities. The Board acknowledged that she left behind a lasting legacy of strong leadership and institutional integrity.
In recognition of her services, the Board resolved to name the PSX Auditorium as the “Dr. Shamshad Akhtar Auditorium” as a permanent tribute.
Resignation
Separately, the Board accepted the resignation of Dr. Fakhara Rizwan from her roles as Corporate Secretary and Chief Governance, Legal and Corporate Affairs Officer, where she was also serving as Acting Head of Human Resources. Her resignation was accepted to allow her to pursue other professional opportunities. Given the critical nature of her responsibilities, Dr. Rizwan will serve a three-month notice period, ending on March 27, 2026.
The Board placed on record its appreciation for Dr. Rizwan’s contributions, acknowledging her role as a key custodian of PSX’s governance framework and her consistent guidance on matters of strategic importance.
