ISLAMABAD - In a first major step towards sprucing up the Pakistan International Airlines (PIA) administration, government has decided to appoint Mohammad Azam Saigol as new chairman of the airlines.
Although there was no official confirmation of the appointment, the sources in the government and the airlines confirmed that Azam Saigol would take over as chairman in a next couple of days after his formal notification. The formal notification will likely be issued today (Thursday), confirmed a source in government.
It was further informed that Brend Hildenbrand would also be elevated to the position of Chief Executive Officer of the airline. He is currently holding the position of chief operation officer of the airlines.
Mr Saigol remained part of the board of directors of PIA from September 2013 to April 2014 when he resigned from the position on personal grounds.
During his stay as member board of directors he had served as chairman of PIA Board's Information Technology Steering Committee and member of PIA Board's Audit Committee, PIA Board's Human Resource & Remuneration Committee, and PIA Board's Finance Committee.
A graduate from Oxford University, Azam Saigol is an industrialist and has interests in textile, electronics/electrical, international trading automobile, energy and banking industries. He is currently serving as chief executive of Kohinoor Industries Limited and Kohinoor Power Company Ltd. He is also serving in the Boards of Pak Elektron Limited and Saritow Spinning Mills Ltd.
In April this year, the parliament approved a law which will turn the ‘cash-strapped’ airline into a limited company, however, prohibited the government from giving up its management control.