The government has appointed Masud Khan as the Chairman of Bangladesh Securities and Exchange Commission (BSEC) as part of its efforts to strengthen the country's capital market regulatory framework.
The Financial Institutions Division of the Ministry of Finance issued a notification in this regard on Thursday.
According to the notification, Masud, Group CEO of Crown Cement PLC, has been appointed Chairman of the BSEC for a four-year term under Section 5(2) of the BSEC Act, 1993.
The notification said he will assume the new role subject to relinquishing all employment and professional engagements with Crown Cement and other organisations.
Under the terms of his appointment, he will receive government pay, allowances and other benefits applicable to the position.
A seasoned corporate executive with more than four decades of experience in multinational and local companies, Masud has been serving as an independent director and chairman of the audit committee of Singer Bangladesh Limited and Community Bank Bangladesh.
He was also serving as an independent director of British American Tobacco Bangladesh and chairman of its Nomination and Remuneration Committee.
Before joining Unilever Consumer Care as Chairman, Masud worked for 18 years as Chief Financial Officer (CFO) of LafargeHolcim Bangladesh.
Earlier, he spent two decades in various finance and leadership positions at British American Tobacco.
Masud has also been associated with the Institute of Chartered Accountants of Bangladesh (ICAB) as a faculty member for more than 40 years.
He earned a Bachelor of Commerce (Honours) degree from St. Xavier’s College in Kolkata. A Chartered Accountant (CA) and Cost and Management Accountant, Masud won a silver medal in the All-India Chartered Accountancy Examination in 1977. He is also a Fellow of the Institute of Certified Management Accountants of Australia and New Zealand.
His appointment came hours after former chairman Khondoker Rashed Maqsood resigned on Thursday morning after serving for 21 months during the tenure of the interim government.
Four commissioners of the securities regulator also stepped down on the same day.
The development follows the passage of the Bangladesh Securities and Exchange Commission (Amendment) Act, 2026 in Parliament on April 30, which abolished the previous age limit of 65 for appointing the BSEC chairman and commissioners.
The government said the amendment was intended to enable the appointment of experienced professionals to the country's capital market regulator.