February 1, 2021 (MLN): The Board of Directors of International Industries Limited (IIL) has announced the appointment of Mr. Kamal A. Chinoy as the Chief Executive Officer with effect from 10 February 2021.
Mr Kamal Chinoy is the senior-most Director of IlL having been appointed in 1984 & started his career with the company in 1980. He was the architect of the Company's sales & marketing practices while he served for 12 years. He has extensive experience in the corporate & management world having served successfully as CEO of Pakistan Cables for 27 years, while also having served on the Boards of about 10 public listed companies, including IC!, Atlas Group companies, banks, etc. He has been Chairman of the Aga Khan Foundation (Pakistan). He is the current Chairman of Jubilee Life Insurance & the Honorary Consul General for Cyprus in Sindh & Baluchistan.
He will be replacing Mr. Riyaz Towfiq, who will be stepping down as the Chief Executive Officer of the Company as at the close of business on 9th February 2021 in order to pursue other opportunities, after completing 28 years of Service in IlL, with the last 10 as the Chief Executive Officer.
Mr. Riyaz Chinoy will continue to serve on the Board of IlL. Mr. Riyaz Chinoy has played a pivotal role in strengthening the foundation of International Industries Ltd. As a result of his efforts the status of IlL has been established as a world-class multi-national company with wholly-owned subsidiaries operating in Australia and Canada. The Board recognizes & applauds Mr. Riyaz Chinoy's contribution to IlL.
IlL is Pakistan's largest manufacturer of steel, stainless steel, and polymer pipes with an annual manufacturing capacity of 817,000 tons and annual revenues of almost Rs. 26 billion, a significant contributor to the country's foreign exchange inflow and a model corporate citizen. Its exports over the last 5 years exceeded USD 238.4 Million and it has won FPCCI's export awards for the last 20 years, with sales to 60 countries. In the last 5 years, IlL has also contributed over Rs. 19.3 Billion in duties and taxes to the national exchequer.
The Company has been recognized as one of the Top 25 Companies on the PSX for three years continuously and 10 continuous years as the leading Engineering exporter and 7 of the last 10 years as an award winner of the ICAP award for best presented annual accounts.
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