KARACHI: Pakistan Cables today announced that Mr. Fahd K. Chinoy, currently Deputy Chief Executive, has been appointed as the Chief Executive Officer of the company, effective July 1, 2019 in place of Mr. Kamal A. Chinoy who is stepping down from the role after 27 years.
Kamal A. Chinoy has been the company’s Chief Executive since 1992 and worked relentlessly to position the company as Pakistan’s most trusted wire and cable company. During his tenure, the company grew through expansion across market segments, product innovation and technical collaboration with foreign partners.
Its focus on sustained growth led to meeting stakeholder expectations consistently as the company’s revenues grew from Rs. 300 million to Rs. 9.6 billion, which strengthened its position as the country’s leading brand.
The market capitalization of the company expanded from Rs.130 million in 1992 to Rs. 5 billion in 2019.
Fahd K. Chinoy has nearly 18 years of experience and most recently served as Executive Director and Deputy Chief Executive at Pakistan Cables.
He joined Pakistan Cables in 2008 and has helped lead and execute many of the company’s investments and strategy decisions and has been on the forefront of several landmark transactions for the company.
He carries an MBA degree from INSEAD and did his Bachelors degree from the University of Pennsylvania. He has previous experience working internationally in the US and Canada in the banking sector.
Pakistan Cable’s Chairman Mustapha Chinoy said, “Kamal’s vision combined with his commitment to serve the long term interests of the company, have fortified Pakistan Cables in the industry today.
He leaves a legacy of strong ethics and excellence that’s much needed in the evolving business environment today. I’d like to thank him, on behalf of the Board, for his contribution to the company.
“The Board is pleased to appoint Fahd K. Chinoy to the role. Having worked for Pakistan Cables in a variety of senior management roles, Fahd has demonstrated a deep understanding and passion of our business and the industry. The Board warmly welcomes Fahd to the role and wishes him every success.”
Given Kamal A. Chinoy’s vast experience in the industry, the Board of Directors has proposed that he assumes the role of an Advisor and assist the Company’s other initiatives.