Key Takeaways
- Junaid Iqbal, former managing director of Careem, will become president and CEO of Engro Corporation in April 2027.
- Iqbal played a pivotal role in Careem’s growth, contributing to its acquisition by Uber for $3.1 billion.
- He founded Salt Ventures and Caravan Media, focusing on tech startups and media content.
Junaid Iqbal, a prominent figure in the tech and finance sectors, is set to take over as president and CEO of Engro Corporation in April 2027, following his successful tenure at Careem and subsequent entrepreneurial ventures.
Iqbal’s career began in media, where he hosted 'Power Lunch' on CNBC Pakistan, before transitioning into the financial sector. At BMA Financial Services Limited, he relaunched the Corporate Finance division and executed privatisation transactions worth over USD 1.5 billion, including the largest equity capital markets transaction in Asian Frontier Markets history.
His role at Careem was pivotal, where he first served as the managing director for Pakistan, building the company’s presence in the country. He then extended his leadership to the Saudi Arabian market before becoming the managing director and global head of Careem Pay. During his tenure, Careem grew significantly, eventually being acquired by Uber for $3.1 billion in 2020.
After his time at Careem, Iqbal embarked on new entrepreneurial journeys, both based in Dubai. He founded Salt Ventures, an investment firm focusing on diverse tech startups, and Caravan Media, a knowledge-focused media business. Caravan Media’s first product, 'Pakistan & Counting,' explores Pakistan’s economic potential through videos.
Iqbal’s strategic vision has also been evident in his recent ventures. He views Dubai and Riyadh as instrumental in fostering collaboration between global talent and capital, positioning the Middle East, North Africa, and Pakistan (MENAP) as an ‘interesting and exciting region’ for innovation.
In September 2026, Iqbal was appointed as the president & CEO-designate of Engro Corporation Limited. He will officially take over the leadership role in April 2027, following the completion of Ahsan Zafar Syed’s term. Prior to his formal assumption of the CEO position, Iqbal will serve as an advisor to the CEO of Engro Holdings and will be involved in key strategic priorities.
His career trajectory underscores a consistent drive for impact, whether leading a ride-hailing platform or founding tech and media ventures. Iqbal’s appointment is seen as a significant move, bringing his strategic vision and entrepreneurial spirit to one of Pakistan’s largest conglomerates.
