The Board of Directors of the Indus Motor Company Limited (IMC) has appointed Mohamed Ali R. Habib as Chairman of the company.
“The Board of Directors of the Indus Motor Company Limited in their meeting held on 26th June, 2020 through video link has appointed Mr. Mohamedali R. Habib as Chairman on the Board of the Company with effect from June 26, 2020 to fill the casual vacancy occurred due to sad demise of Mr. Ali S Habib, the founding Director and Chairman of the Company on April 17, 2020,” the company said in its filing at the Pakistan Stock Exchange (PSX).
Furthermore, the IMC Board also appointed Muhammad Hyder Habib as Director with effect from June 26, 2020, to fill the casual vacancy in place of Ali S. Habib. The Board also appointed Noriaki Kurokawa as director to fill the casual vacancy in place of Tadao Nasu.
In April, Ali Suleman Habib passed away at the age of 63 in Karachi. Apart from being chairman of the Indus Motor Company, He also headed operations for the House of Habib, a legacy business conglomerate that has several successful businesses functioning under its umbrella.
Under umbrella of the House of Habib, he served many boards as their director including Thal Limited, Shabbir Tiles & Ceramics Limited, Habib Metropolitan Bank Limited, Metro Habib Cash and Carry Pakistan (Pvt.) Limited.