‘Sustainability and people’s welfare at the core of PHP Family’

Currently, the PHP Family – one of the country's leading conglomerates based in Chattogram with a diverse portfolio of businesses including ship-breaking, textiles, steel manufacturing, and construction – is being run by the second generation of leaders, but the third generation is also taking an active role in the company's leadership.

Nuved Mizan Iqbal, grandson of the founder Sufi Mizanur Rahman and the first son of the group's Managing Director Iqbal Hossain, joined the company as the third-generation successor in January 2025. As part of the transition to the third generation, he started his career at the entry level to understand the business from the ground up.

In his interview with The Business Standard, Nuved shared his journey of learning and his vision of carrying forward the legacy of a successful family business.

How does it feel to join the family business as a third-gen leader while the first gen is still in charge?

It is a great responsibility for me as a member of the third generation of this successful business family. My grandfather, Sufi Mizanur Rahman, founded the group, and my father and uncles have successfully led it, transforming it into one of the country's top business groups. Now, it's our turn to share the responsibility of sustaining and furthering this legacy.

It has only been five days since I joined the office, and I am focused on learning from my uncles, who are like professors to me.

In the office, I join meetings and observe how my uncles interact with bank officials and make decisions. At the factory, I engage with officials and workers to learn about the production process. 

I am truly enjoying this learning journey.

How did you prepare yourself for taking on this responsibility?"

I completed my primary education at a school in Chattogram before moving to Malaysia, where I attended the International School of Kuala Lumpur for middle and high school. 

Later, I moved to the United States, where I earned a Bachelor's Degree in Financial Planning and Entrepreneurship from Purdue University. After finishing my degree, I returned home last month and joined the office this month.

While this is my formal academic background, I have been learning about the business from my grandfather since childhood. 

As a third-generation leader, what challenges do you find in the business?

At the moment, the biggest challenge is the pressure of carrying forward the legacy. My grandfather, Sufi Mizan, built the foundation of the business, and the second generation — my father and uncles, along with my grandfather — transformed the group into one of the leading conglomerates. 

Now, the responsibility is on us to take it to the next level, which is a significant challenge. However, I am excited and ready to accept this responsibility.

What is your plan for the sustainability of the business?

The philosophy of PHP Family is to grow sustainably while ensuring the welfare of the country's people, and I am here to carry forward that legacy. From my grandfather and uncles, I've learned that product diversification is key to sustainability. Currently, I am focused on injecting fresh ideas and introducing new products. 

How would you address environmental sustainability issues in future ventures?

PHP was the first company to introduce green ship-breaking in Bangladesh, and the PHP ship-breaking yard is recognised as one of the finest in the world. 

All our factories are equipped with Effluent Treatment Plants, and we place a strong emphasis on environmental issues. We believe that no business can be truly sustainable if it harms the environment. 

We are committed to maintaining the highest environmental standards, ensuring that there is nothing that people can point a finger at when it comes to the PHP Family.