K-Electric appoints Adeeb Ahmad interim chief executive officer

K-Electric (KE) on Friday appointed Adeeb Ahmad as the company’s interim chief executive officer (CEO) with immediate effect.

Last week, Moonis Alvi had stepped down as the company’s CEO, days after getting a few days after getting a clean chit from the Sindh governor in a workplace harassment case.

According to a press release issued on Friday, the KE board of directors held a meeting and decided that Ahmad would be appointed the CEO in place of Alvi with immediate effect.

Further, a disclosure submitted by the company to the Pakistan Stock Exchange (PSX) also stated the same.

“The board has commenced an accelerated search for a permanent CEO,” the disclosure said.

According to KE’s website, Ahmad’s career spans 34 years, including C-suite roles. He has been involved in managing private equity funds, mergers and acquisitions, and transformation focused on energy and other infrastructure sectors. He recently served as the CEO of Hascol Petroleum Limited.

In a post on X last week, Alvi had confirmed that he had “decided to step down”.

“It has been an honour to serve an institution so central to Karachi’s life, alongside some of the most resilient and committed professionals I know,” said the former KE CEO, adding that he will “support a smooth transition”.