operations and restructured management in a move aimed at reducing
costs and improving business.
and North American activities, which will now be jointly headed by
Mitch Van Wye, who previously ran the American division of the
Naeem Ghauri is the new head of global sales, while Boo Ali has
become the company’s new chief financial officer.
Senior managers also agreed to salary reductions up to 33
percent of their compensation.
The company’s CEO Najeeb Ghauri said that the changes
were part of a comprehensive cost reduction program,
including “organizational changes which will result in a more
effective and results driven global platform.”
He added: “We are once again committed to achieving
profitability as soon as possible as we take these cost