Loss making Kenya Power has appointed Geoffrey Waswa Muli as its new acting managing director to replace Mrs Rosemary Oduor, who has been acting since August 2021.
Kenya Power stated that Mr Muli’s appointment will take effect immediately as Ms Oduor proceeds on annual leave.
The new interim MD has also served the State agency as an acting general manager in charge of regional coordination.
“Kenya Power has appointed Eng. Geoffrey Waswa Muli as acting managing director with effect from 17th May 2022 in place of Eng Rosemary Oduor, who was serving in an acting capacity…… Eng Oduor is proceeding on a well-deserved annual leave.” the statement reads in part.
Ms Oduor was appointed to act as an MD after Bernard Ngugi resigned last year following shock managerial changes at Kenya Power.
Mr Ngugi quit the firm following boardroom fall out and court battles that also saw other three CEOs leave over past looting scandals.
He was under pressure from the board and shareholders for failing turnaround the firm into a profit making utility. He was kicked out of Kenya Power barely two years into his appointed for a three-year term.
Ngugi had been at the firm for over three decades when he took over from Jared Othieno, who had served under acting capacity since July 2018 following the exit of the former chief executive Ken Tarus.
Mr Tarus was charged in court for abusing his office and conspiring to commit economic crimes.
He was charged alongside his predecessor, Ben Chumo, and a number of other senior managers but they all denied their charges.
Kenya Power losses were getting bigger and more painful it recorded a Sh7 billion loss in October 2021. The firm also breached the Capital Market Authority (CMA) listing regulations for reporting significant negative working capital for four straight years.
The firm has not appointed a substantive MD since the resignation of Barnard Ngugi but Muli’s appointment is informed by the ongoing energy reforms championed by President Uhuru Kenyatta’s energy task force.
The taskforce recommended power tariff renegotiations with Independent Power Producers (IPPs) with an aim of cutting power bills for consumers by 30% before the end of the current financial year.
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