Allawasaya Textile & Finishing Mills Limited announced the resignation of Mr. Muhammad Umar Farooq. The Board acknowledged and approved Mr. Farooq's resignation with a majority vote. His departure from the company marks the conclusion of his tenure in a significant leadership role.

In light of the resignation, the Board moved on to discuss the consequential casual vacancy that arose due to Mr. Farooq's departure. With a strong majority vote, the Directors unanimously agreed to appoint Mrs. Ayesha Mansoor, an existing member of the company, as the new Director. Mrs. Mansoor's appointment is effective from August 30, 2023, and she is entrusted with the responsibility of steering the company as Director for the remainder of the period.

Although financial results were not part of the agenda for this particular meeting, these decisions underscore Allawasaya Textile and Finishing Mills' commitment to ensuring a seamless transition of leadership and maintaining a strong governance structure. These choices, marked by unanimous decisions, play a pivotal role in shaping the strategic direction and operational course of the company. As the company embraces its new Director and embarks on this phase of leadership transition, stakeholders, investors, and industry observers will closely monitor the impact of these decisions on the company's ongoing performance and future prospects.