KARACHI: Moonis Alvi, the Chief Executive Officer (CEO) of K-Electric (KE), has reportedly tendered his resignation to the company’s Board of Directors, marking the end of the longest tenure in the utility’s history. According to sources, Alvi, who has served the power utility for 18 years—including 8 years as its CEO—submitted his resignation amid various ongoing challenges and controversies. While the KE spokesperson has neither confirmed nor denied the development, internal sources suggest the Chairman of the Board, Mark Skelton, is likely to accept the resignation.
Regarding the search for a successor, three candidates, all reportedly from Karachi, have been shortlisted. These individuals possess extensive experience in the energy and finance sectors. An important board meeting is scheduled for next week, however, the formal appointment of the new CEO will be finalized by the new board following elections scheduled to take place during Ramadan. Once the board officially approves the resignation, a formal notification will be sent to the Pakistan Stock Exchange (PSX).
The news has reportedly sparked a wave of uncertainty within the organization, with senior officials expressing concerns regarding the company’s future direction during this leadership transition. The board currently consists of 13 seats, but with three seats long vacant and Alvi’s departure, the number of active members has dropped to nine. Currently, Moonis Alvi is in Saudi Arabia for Umrah. While efforts were made to reach him for a personal statement, he has not yet responded to calls or messages.
Official Stance: A K-Electric spokesperson stated, “We are not aware of whether CEO Moonis Alvi has resigned or not. K-Electric will issue its official stance in accordance with company guidelines.”
