KARACHI – K-Electric CEO Moonis Abdullah Alvi resigned as the longest-serving CEO in the company’s history. The resignation has been officially accepted by K-Electric’s Chairman, Mark Skelton, who promptly informed the Pakistan Stock Exchange.
The race for new CEO is already heating up. Three candidates from Karachi have been shortlisted, all with vast experience in the energy and finance sectors, signaling a new era for the city’s electricity supply. The current board will interview these candidates and submit their findings to the incoming board, which will make the final appointment.
The board meeting is scheduled for next week, while the election of the new Board of Directors is set to take place during Ramadan, meaning the new CEO will only be confirmed once the new board assumes charge. Currently, K-Electric’s board has nine members, down from the total of 13, with three long-vacant seats adding to the uncertainty.
Adding human touch to this corporate shake-up, the resigning CEO is currently away on Umrah, ending his remarkable 18-year journey with electric giant. His exit marks end of an era for K-Electric and sparks anticipation across Karachi about who will take the reins of the city’s power supply next.
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