The Mitchell’s Fruit Farm Limited has appointed renowned journalist Najam Sethi as interim CEO. According to the stock filing, he will succeed Naila Bhatti, who left the company last month after two years of service.
Since the beginning of 2020, Sethi has been the company’s chairman of the board of directors. He resigned from his post in order to take over as acting chief executive and oversee daily operations for the company. Shahzad Ghaffar has been chosen to take his place as the company’s chairman, according to the stock filing.
As a businessman in the past, Najam Sethi built several media organisations as well as a publishing house. Additionally, he worked for the Pakistan Cricket Board and was crucial in helping to organise the Pakistan Super League, a major local cricket competition (PSL). He also played a number of responsibilities for the government, including Punjab’s acting chief minister.
At a period of severe financial crisis, Sethi joined Mitchells Fruits Farm as a director and the board chairman. The business had been losing money for many years, but in 2020–21, it briefly returned to profitability with a bottom line of more than Rs. 104 million.The business will still be losing money in 2022, by the end of the third quarter of 2021–2022.
Mitchells Fruits Farm is well-known for producing a variety of edible items, such as drinks, chocolates, jams, ketchup and sauces, ready-to-eat foods, and more.
Additionally, the business exports its goods to over 20 nations, including the United Kingdom, United States, Canada, South West Asia, Middle East, Netherlands, Belgium, Greece, Denmark, and Djibouti.