\n<\/p>\n
KARACHI: Adeeb Ahmed was appointed as the acting Chief Executive Officer (CEO) of K-Electric on Friday, ARY News reported.<\/strong><\/p>\n The appointment was made during a meeting of the K-Electric Board of Directors held to discuss the leadership role.<\/p>\n The board reached a decision to appoint Ahmed as the acting CEO of Karachi\u2019s sole power provider.<\/p>\n Adeeb Ahmed is a seasoned veteran of the company, having served as a director at K-Electric since 2019.<\/p>\n According to K-electric website<\/p>\n Mr. Adeeb Ahmad\u2019s career spans 34 years including C-suite roles. He has been involved in managing private equity funds, M&A and transformation focused on energy and other infrastructure sectors across MENA, Turkey, CIS, Southeast Asia, and Pakistan.<\/p>\n He has been engaged with investment banking institutions in the GCC and Pakistan leading several M&A, privatization and capital raising assignments. He recently served as the CEO of Hascol Petroleum Limited.<\/p>\n He has also served as Senior Advisor to the CEO and Deputy CEO-Designate at Islamic Corporation for the Development of the Private Sector (ICD) in Saudi Arabia. He holds an M.Sc. from the LSE, UK, and an MBA from IBA, Karachi.<\/p>\n Earlier, Moonis Alvi has resigned from his position as Chief Executive Officer of K-Electric, the company\u2019s spokesperson confirmed.<\/p>\n The information has been formally shared with the Pakistan Stock Exchange, according to K-Electric.<\/p>\n In a statement on X, Moonis Alvi said institutions are always greater than individuals, and the organisation\u2019s improvement has remained his top priority.<\/p>\n \u201cAfter 18 years with K-Electric, including almost 8 as CEO, I have decided to step down. It has been an honour to serve an institution so central to Karachi\u2019s life, alongside some of the most resilient and committed professionals I know. I will support a smooth transition,\u201d Moonis Alvi said.<\/p>\n Earlier, Sindh Governor Kamran Khan Tessori overturned the punishment awarded to K-Electric Chief Executive Officer Moonis Alvi in a workplace harassment case, providing major relief to the power utility\u2019s top executive.<\/p>\n In a notice to the Pakistan Stock Exchange (PSX), K-Electric said the governor had set aside the impugned order passed by the Provincial Ombudsman Sindh against Moonis Alvi.<\/p>\n According to the company, the decision was issued by the governor in exercise of powers under Section 9 of the Protection against Harassment of Women at the Workplace Act, 2010, after hearing arguments from the concerned parties and reviewing the relevant record.<\/p>\n \u201cThe Governor of Sindh has set aside the impugned order passed by the Provincial Ombudsman Sindh,\u201d the company said in its statement.<\/p>\n<\/div>\n