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KARACHI: K-Electric Board has decieded to change in its top leadership, appointing Adeeb Ahmed as the company’s new Acting Chief Executive Officer (CEO).
The decision was taken by the company’s board meeting held on Friday. The meeting which named Ahmed as acting CEO until a permanent chief executive is appointed.
Meanwhile, the 18-year journey of outgoing CEO Moonis Alvi came to an end. Alvi faced a number of challenges and bring the company from a crisis to sustainable growth. He had been a key figure in the company’s leadership, overseeing major transitions and reforms during his tenure.
Adeeb Ahmed has been associated with K-Electric since 2019 and has served as a director, remaining on the company’s board for the past six years. His appointment comes at a time when the utility is navigating regulatory and operational challenges in the country’s largest city.
Ahmed brings more than 34 years of professional experience, including multiple C-suite roles. His career spans private equity fund management, mergers and acquisitions, and large-scale transformation initiatives focused on the energy and infrastructure sectors across the MENA region, Turkey, CIS, Southeast Asia and Pakistan.
He has worked closely with investment banking institutions in the GCC and Pakistan, leading several M&A, privatization and capital-raising assignments. Most recently, he served as Chief Executive Officer of Hascol Petroleum Limited.
Previously, he also held senior leadership roles at the Islamic Corporation for the Development of the Private Sector in Saudi Arabia, where he served as Senior Advisor to the CEO and Deputy CEO-Designate.
Ahmed holds a Master of Science degree from London School of Economics and Political Science, United Kingdom, and an MBA from Institute of Business Administration, Karachi.
Meanwhile, the 18-year journey of outgoing CEO Moonis Alvi came to an end today. Alvi had been a key figure in the company’s leadership, overseeing major transitions and reforms during his tenure.
The board expressed confidence that Ahmed’s experience in energy markets, finance and institutional leadership will ensure continuity and stability during the transition period.
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