K-Electric Chairman Mark Gerard Skelton resigns

KARACHI: K-Electric (KE) Chairman Mark Gerard Skelton resigned from his post, according to a disclosure submitted to the Pakistan Stock Exchange (PSX) on Friday.

K-Electric also announced the appointment of Shaheryar Arshad Chishty as Alternate Director on the Board, replacing Skelton with immediate effect.

Last month, Adeeb Ahmed was appointed acting Chief Executive Officer (CEO) of K-Electric following the resignation of Moonis Alvi.

The decision was made during a board meeting to discuss leadership matters, appointing Ahmed to lead Karachi’s sole power provider.

Ahmed is a seasoned company veteran, having served as a director at K-Electric since 2019.

Earlier, Sindh Governor Kamran Khan Tessori overturned the punishment awarded to former CEO Moonis Alvi in a workplace harassment case, providing major relief to the power utility’s top executive.

In a notice to PSX, K-Electric said the governor set aside the impugned order passed by the Provincial Ombudsman Sindh under Section 9 of the Protection against Harassment of Women at the Workplace Act, 2010, after reviewing the case and hearing arguments from the concerned parties.

“The Governor of Sindh has set aside the impugned order passed by the Provincial Ombudsman Sindh,” the company confirmed in a statement.