Panama Petrochem Limited — Others, 26-05-2025: Change in Management

Panama Petrochem has announced a board meeting that confirmed key leadership changes. Mr. Amirali Rayani will step down as Chairman by end-July but stay on the Board, with Executive Director Mr. Arif Rayani taking over as Chairman from August. Mr. Hussein Rayani is re-appointed as Joint Managing Director for five years from end-October. The company plans to re-appoint JMR & Associates LLP as Statutory Auditors and appoint M/s Milind Nirkhe & Associates as Secretarial Auditor, both for five-year terms subject to shareholder approval. These decisions support leadership continuity and strong governance.