||This biographical article needs additional citations for verification. (October 2012)|
|Born||8 September 1961|
|Alma mater||Institute of Business Administration, Karachi|
Asad Umar (Urdu: اسد عمر ) (born 8 September 1961) is a Pakistani lawmaker and former business administrator . He served as CEO and President of Engro Corporation for 8 years during a 27-year career with the company. He resigned from his post at Engro and Joined Imran Khan led political party Pakistan Tehreek-e-Insaf on April 2012. He received Sitara-i-Imtiaz Pakistan
Tenure at Engro
Umar’s 27-year career at Engro began in 1985,when the company was still a subsidiary of ExxonMobil, the global oil giant. He joined the company as a business analyst, and was working for it abroad in Canada when the famous management buyout of Engro took place in 1991. Umar came back to Pakistan and in 1997 was appointed the first CEO of Engro Polymer & Chemicals, the group’s petrochemical arm. Later on, he was elected as the President and CEO of Engro Corporation in January 2004 and transformed the business from a mere chemical company to a giant conglomerate. It was his idea to diversify into dairy and food business and today 'Engro Foods' stand as the highest profit producing subsidiary of Engro Corporation. It was in his tenure when Engro became the first Pakistani company to buy a business entity abroad when the company earlier in 2012 bought Canadian based food company 'Al Safa Halal'.
Umar has been quoted about his first salary as saying, “I still remember the exact figure of my first salary: Rs 3,200 per month. He confirmed this in Waqt News Program and He was working in HSBC Bank at that time. My boss at the time said ‘Well, frankly they are paying you too much.” At the time he left the company, he was the CEO in the company who received Rs 7.0 Million monthly as salary, in addition to which he was also paid from company stocks and owns about 2 million shares of the corporation.
Asad Umar resigned as CEO of Engro Corporation on 19 April 2012 and joined Pakistan Tehreek-e-Insaf. At PTI, he will be part of committee to work on a draft paper to suggest economic reforms to take Pakistan out of current financial crisis. Asad Umar was appointed Central Senior Vice President of PTI on 21 April 2012.
- "Asad Umar Nomination Form for Election to National Assembly" (PDF). Election Commission of Pakistan. 2013. p. 40. Retrieved 5 October 2014.
- "EX Engro CEO Asad Umar joins PTI". Retrieved 2012-04-19.
- "Engro CEO Asad Umar decides to quit". Daily Times.com. 17 April 2012. Retrieved 2012-04-19.
- "Corporate titan: After 27 years at Engro, Asad Umar calls it a day". Tribune.com.pk. 17 April 2012. Retrieved 2012-04-20.
- "Asad Umar, Ishaq Khakwani, Khwaja Hoti & Iftikhar Gillani appointed as Central Senior Vice Presidents Khwaja Hoti & Iftikhar". Retrieved 2012-04-25.
Category:1961 births Category:Living people Category:Pakistani businesspeople Category:Pakistani chief executives Category:Institute of Business Administration, Karachi alumni Category:Sitara-i-Imtiaz Category:People from Rawalpindi Category:People from Karachi Category:Pakistan Tehreek-e-Insaf politicians Category:Businesspeople from Karachi Category:Politicians from Karachi