The annual election for the five seats of directors of the Karachi Stock Exchange (KSE) for the 2008 term was held here on Thursday. Seven candidates contested the election and five of them were declared elected as the directors.
The successful candidates are Shehzad Chamdia, Munir M Ladha, Dawood Jan Muhammad, Muhammad Sohail Dayala and Muhammad Shoaib Memon. A total of 167 votes were cast out of 200 eligible voters of the KSE. There were nine nominations for five seats, however, two candidates Haroon Fatani and Fawad Yousuf withdrew their nominations, leaving seven in fray.
The KSE board comprises five member directors and four nominated directors and an MD appointed by the SECP. The Karachi Stock Exchange (KSE) chairman is also elected from among the nominated directors.