Kenya Power, the country’s troubled energy distributor, announced on Wednesday that Chief Executive Bernard Ngugi has resigned and would depart his position immediately, in a surprising upheaval at the loss-making parastatal.
Mr Ngugi resigned just two years after being appointed to the top of the Nairobi Securities Exchange (NSE) listed utility, citing pressure from shareholders, government, and labor unions over turnaround plans amid a string of losses at the power.
“We wish to advise our shareholders that the board of directors has appointed Eng Rosemary Oduor as interim managing director and chief executive of the firm, from August 4, 2021,” the company said.
Mr Ngugi, a former head of Kenya Power’s procurement division, was designated chief executive officer in October 2019 as part of a reorganization that aimed to restore the power monopoly’s financial position after a string of losses.
Following the departure of former CEO Ken Tarus, who was accused in court with conspiring to commit an economic crime and abuse of authority, Mr Ngugi, a Kenya Power insider who had served at the firm for over three decades, took over.
Previously, Jared Othieno, had been acting CEO since July 2018.
