At Crown Cement PLC, one of the top cement producers in the nation, a new era of leadership has begun. As board directors, members of the company’s founding family’s second generation will now hold important positions. This action is regarded as a major step in the direction of the company’s long-term succession planning and corporate governance.

According to the 2024-25 annual report, Solaiman Kabir, son of the company’s Vice Chairman Alamgir Kabir, and Mushrat Mohajabin, daughter of Additional Managing Director Mizanur Rahman Mollah, have been appointed as directors. These appointments, approved by the board, will be presented for final approval by shareholders at the Annual General Meeting (AGM) on 22 December.

To meet the legal requirements for assuming directorship, necessary changes were made in the shareholding of the founding family. In April, Alamgir Kabir transferred 2.97 million shares from his personal holdings to his son Solaiman Kabir. Similarly, Mizanur Rahman Mollah gifted 3 million shares to his daughter Mushrat Mohajabin.

According to stock market regulations, a person must hold at least 2% of the company’s total shares (2.97 million shares in this case) to qualify for a position on the board. Crown Cement believes that these new-generation directors will bring fresh perspectives to corporate strategy, sustainable development, and digital transformation.

To sustain future leadership, the company is preparing several other members of the founding family for board roles. These include Salehin Mushfiq Sadaf, daughter of Chairman Jahangir Alam; Atik Morshed and Mehnaz Mehjabin, children of Managing Director Mollah Mohammad Manzur; and Saiham Sadiq Piyal, son of Director Almas Shimul. Significant share transfers have already been made in their names, paving the way for potential future leadership positions.

Founded in 1994, Crown Cement began commercial operations in 2000 with a modest production capacity of 600 tons. Today, its daily production capacity stands at 19,040 tons.

However, this leadership transition comes at a time when the company is facing financial challenges. In the 2024-25 fiscal year, Crown Cement’s revenue rose 18% to BDT 3,764 crore, but net profit fell 33% to BDT 67 crore compared to the previous year. The company cited rising production costs, increasing loan interest, and higher electricity bills as reasons for the profit decline. Despite this, trust in the company’s fundamentals has led the board to recommend a 21% cash dividend for investors.

Looking ahead, there are positive signs of recovery. In the first quarter of the 2026 fiscal year (July–September), the company reported a 25% increase in revenue and a record 77% rise in net profit, reaching BDT 6.67 crore. Market observers believe that with the guidance of experienced leaders, the inclusion of the new generation will help Crown Cement sustain growth amid global economic uncertainties and achieve its long-term goals.