Pakistan International Airlines has appointed Khalilullah Shaikh as the new chief financial officer of the company. Khalilullah Shaikh, FCA, was working of K Electric as head of the supply chain from 2017 to 2019. Khalilullah joined K electric as general manager finance in 2007 and within one year he was promoted to Director Finance and Business Administration. He worked on this position for the next 5 years and moved on to become a chief internal auditor in 2013.
Khalilullah also joined the IFAC Professional Accountants in Business Committee in January 2017 after serving as a Technical Advisor to the committee from 2014 to 2016. Mr Shaikh started his career with A.F.Ferguson & Co., a member firm of PwC. He also worked for a Shell group refinery in Pakistan as Head of Treasury & MIS.
Earlier the new management in uniform removed former CFO and acting CEO Nayyar Hayat from his position or it was reported that he has resigned. But a journalist tweeted that Nayyar Hayat refuted these claims and said: “there is no such thing”. The tweet was later removed. Nayar Hayat was removed for the second time from his position as the company’s chief financial officer with immediate effect on 16 August 2018. He became Chief Special Projects after that.
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PIA issues show cause notice to CFO Nayyar Hayat
After the Supreme Court removed the former CEO and president Musharraf Rasool Cyan Nayyar was lobbying to reclaim his position or even become CEO. But after the arrival of Air Marshal Arshad Malik, he was keeping a low profile. 4 months ago a serving Air Force officer working in PIA without a portfolio had an argument with him. Later on, it was revealed that the Air Commodore told Nayyar to vacate his office.
After this argument staffers were seen throwing stuff out from Nayyar Hayat’s office into the lobby. This scene was witnessed by many PIA officers. This is seen as the evidence that the new management might not be interested to have Nayyar around.