November 23, 2021 (MLN): The Board of Directors of Afiniti Ltd. (“Afiniti”) has named Larry Babbio as Chair of the Board of Afiniti, effective immediately, a press release on the company’s website said on Monday.
Mr Babbio has served as a Director of Afiniti’s Board since 2016. The former Vice-Chair and President of Verizon Communications, Inc., Mr. Babbio brings with him the deep knowledge and experience necessary to guide Afiniti forward.
Afiniti also announced the formation of a Special Committee of the Board to investigate issues surrounding the conduct of its former CEO and Chair. Leslie R. Caldwell, Latham & Watkins, LLP, will lead the investigation. Ms Caldwell previously served as Assistant Attorney General of the United States Department of Justice’s Criminal Division.
“As Chair, my immediate priority is to keep our people safe and ensure that we continue to deliver the best possible service for our clients. This investigation is an important and necessary first step in building a better future for Afiniti,” said Mr Babbio.
Meanwhile it is worth noting that, post harassment allegations, the share price of TRG Pakistan has hit five successive floors. However, with Mr Zia Chishti's resignation and the current announcement of the special investigation committee, Afiniti has started taking action, which would bode well for the company’s reputation and investor confidence.
Currently, the stock is trading at Rs88.35 per share.
