Otsuka Pakistan Limited has officially announced the retirement of its Chief Executive Officer (CEO), Mr. Hanif Sattar, effective February 27, 2024, after successfully completing his term. The company's board of directors has appointed Mr. Moin ur Rehman as the new CEO, effective February 28, 2024, for a three-year term. Mr. Sattar has been an integral part of Otsuka Pakistan, steering the company through various phases of growth and development.

His leadership has been pivotal in maintaining the company's competitive position in the market. Upon retirement, Mr. Sattar will not be leaving the company entirely; he has been appointed as an advisor to the company, also effective from February 28, 2024. Mr. Moin ur Rehman, the newly appointed CEO, is expected to bring a fresh perspective to the company's operations and strategic direction.

The transition is part of the company's commitment to ensuring strong leadership and continuity in managing its operations and strategic initiatives. The changes in leadership were communicated to the Securities and Exchange Commission of Pakistan Securities Market Division, fulfilling the disclosure requirements in terms of Section 15(D)(5) of the Securities and Exchange Ordinance, 1969, as per the SRO 1431(1)/2012, dated December 5, 2012.