The Board of Directors of Dawood Hercules Corporation Limited (DH Corp) in their meeting held on 27 October 2011 approved the appointment of Mr. Shahid Hamid Pracha as Chief Executive Officer in place of Mr. Isar Ahmad with effect from 28th November 2011. Mr. Isar Ahmad who has been associated with the Company for the last six years has made significant contributions towards institutionalizing the corporate governance framework in the Company, managing the process of creation of the holding company and the demerger of the fertilizer business. Mr. Isar Ahmad will continue to serve on the board of the company and the boards of various companies within the group. Mr. Shahid Pracha is a graduate electrical engineer from the University of Salford, UK and prior to joining the Group, spent major part of his career with ICI Plc’s Pakistan operations in a variety of senior roles including international assignment. During his association with the Group since last four years he has held the positions of Group Director Human Resources & Public Affairs, Chief Executive Karachi Education Initiative (KEI) the sponsoring entity of the Karachi School of Business & Leadership and Chief Executive Dawood Foundation, the philanthropic arm of DH Corp.