Ibrahim Fibres Limited (IBFL) announced key appointments in the company on Monday. The latest development was shared in a notice to the Pakistan Stock Exchange (PSX) today. As per the notice, Mohammad Naeem Mukhtar, currently serving as Chief Executive Officer (CEO) and Executive Director, was redesignated as a Non-Executive Director and appointed as the Chairman of the Board in place of the late Sheikh Mukhtar Ahmad. Muhammad Waseem Mukhtar, currently serving as Executive Director, was appointed as the CEO in place of Mohammad Naeem Mukhtar. Moreover, Abdul Hameed Bhutta, currently serving as Non-Executive Director, was redesignated to Executive Director of the Company. “Mohammad Waqar has been co-opted to the Board as Non-Executive Director for the remaining term to fill the casual vacancy created due to the sad demise of Sheikh Mukhtar Ahmad,” the notice read. The IBFL was incorporated in Pakistan as a public limited company in 1986, and is engaged in the manufacturing and sale of Polyester staple fibre (PSF) and yarn.