K-Electric Chief Executive Officer (CEO) Moonis Alvi has resigned from his position, following which the Chairman of the K-Electric Board of Directors has accepted Moonis Alvi’s resignation.
According to sources, K-Electric CEO Moonis Alvi resigned from his position on Thursday, after which he sent his resignation to the company’s board of directors.
Sources say that after the final approval of the K-Electric board, the Pakistan Stock Exchange will be officially informed in this regard. Moonis Alvi served K-Electric for 18 years and was the longest-serving CEO of K-Electric.
On the other hand, Mark Skelton, Chairman of the K-Electric Board of Directors, has accepted the resignation of CO Monis Alvi.
According to sources, three names have been shortlisted for the new CO of K Electric. All three shortlisted individuals are from Karachi and have extensive experience in the energy and finance sectors.
According to sources, a meeting of the Board of Directors of K-Electric is expected next week, while the elections for the Board of Directors will be held in Ramadan, however, the new board will appoint a new Chief Executive Officer.
The current board will present its report to the new board after interviews with the shortlisted candidates. The total number of K-Electric board members is 13, but three seats have been vacant for a long time, while the number of board members has been reduced to 9 after the resignation of Moonis Alvi.
Sources say that there is an atmosphere of anxiety at K-Electric’s head office following the CEO’s resignation and senior officers are concerned about the future.