K-Electric (KE) announced on Friday the immediate elevation of Adeeb Ahmad as its interim Chief Executive Officer (CEO), following Moonis Alvi’s recent resignation. Last week, Alvi stepped down from his role amidst positive feedback from the Sindh governor in a workplace harassment case.
A press release issued by KE’s board of directors detailed that Ahmad would now serve as the company’s CEO, replacing Alvi with immediate effect. This appointment was also reflected in a disclosure to the Pakistan Stock Exchange (PSX).
“The board has initiated an accelerated search for a permanent CEO,” the statement added.
Ahmad’s career boasts 34 years of experience, including stints in C-suite roles managing private equity funds, mergers and acquisitions, and transformations in energy and infrastructure sectors. Most recently, he served as the CEO at Hascol Petroleum Limited.
In a social media post last week, Alvi confirmed his decision 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. “I will support a smooth transition.”
This development underscores K-Electric’s commitment to leadership succession in its pivotal role within Karachi’s community.