MD PECO removed

Staff Reporter

Karachi

The managing director of Pakistan Engineering Company Limited (PECO) has been removed on unlawful acts, said a notice issued to Pakistan Stock Exchange (PSX) on Friday. The company in the notice said that the board of directors in their meeting on December 14, 2018 had considered removal of MD/Chief Executive Officer (CEO) on various strategic and operational grounds. The board resolved: “After reviewing the critical downward trend of PECO due to non-observance of directions of PECO Board, unlawful acts of MD and detailed deliberation, the board unanimously resolved to remove the present MD Miraj Anees Ariff from PECO Board with immediate effect.”

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