Leadership transition in Summit Group

FE Team | Published: April 30, 2024 00:57:06

The leadership of Summit Group, the largest infrastructure conglomerate in Bangladesh, as part of its strategic leadership transition, has approved the election of Jafer Ummeed Khan as the Chairman of Summit Oil and Shipping Limited (effective from April 17) and Latif Khan as the Chairman of Summit Power Limited, a publicly listed company, (effective from April 29).
Previously, both were serving as the Vice-Chairmen of the respective businesses, says a press release.
On the momentous occasion, Muhammed Aziz Khan, the founder Chairman of Summit Group, observed, "It has been one of my life's greatest achievements to serve Bangladesh through Summit's infrastructure development. I have been planning for a transition for over a decade now. At the initial stage, we brothers had introduced our children to the business while my brothers served as Vice-Chairmen. This year, I turned 70 so it is the right time for welcoming the next leadership. As the largest infrastructure conglomerate, we are aware of our responsibility to the nation. I humbly request all for prayers and support for a successful strategic transition."
Jafer Ummeed Khan remarked, "My Chairman has handed over the Chairmanship of the Summit Oil & Shipping. I intend to hand it over in even better condition to the next generation. That is my vision."
Latif Khan mentioned, "We will remain under the guidance of our beloved brother and founder Chairman as we are assigned and elected to the Chairmanship. I am personally promise-bound to Aziz Bhai and Summit for my dedicated service."
Meanwhile, Farid Khan has been serving as the Chairman of Summit Communications and Summit Tower since December 28, 2021 and May 30, 2022 respectively.