Summit Group has elected Jafer Ummeed Khan as the chairman of Summit Oil and Shipping Limited with effect from April 17.

The largest infrastructure conglomerate in Bangladesh also elected Latif Khan as the chairman of Summit Power Limited with effect from April 29.

Previously both were serving as the vice-chairman of the respective businesses, Summit Group said in a statement today.

"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," Muhammed Aziz Khan, the founder chairman of Summit Group, said on the occasion.

"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 for welcoming the next leadership."

"As the largest infrastructure conglomerate, we are aware of our responsibility to the nation. I humbly request all for prayers and support for a successful strategic transition," he said.

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

Latif Khan mentioned, "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 since December 28 of 2021 and May 30 of 2022 respectively.

Muhammed Aziz Khan will continue 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.