Summit Group announces strategic leadership transition as chairman cuts back on responsibilities

Summit Group, one of the largest infrastructure conglomerates in Bangladesh, yesterday announced a major transition in its key leadership roles.

The founding group chairman Muhammed Aziz Khan handed over the board leadership of the group's Oil and Shipping business, Summit Oil and Shipping Company Ltd, to his brother Jafer Ummeed Khan, who was serving as the vice chairman of the company.

Another Khan brother, Latif Khan, ascended to the position of chairman of Summit Power Ltd, a publicly-listed power generation company in Bangladesh.

"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," said Muhammed Aziz Khan in a statement.

"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 to welcome the next leadership," he added.

Jafer Ummeed Khan said, "My chairman has handed over the chairmanship of Summit Oil and Shipping. I intend to hand it over in even better condition to the next generation. That is my vision."

Latif Khan said, "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 had taken the helm of Summit Communications and Summit Tower as the chairman from 28 December 2021 and 30 May 2022, respectively.

Muhammed Aziz Khan continues to serve as the chairman of Summit Corporation, the holding company of power generation assets of Summit Group, Summit Power International (in Singapore) and as director of other companies.