KARACHI (Dunya News) - K-Electric Chief Executive Officer Moonis Alvi has submitted his resignation to the company’s Board of Directors, with the appointment of a new CEO expected soon.
Sources said that Alvi, who has faced various controversies during his tenure, has formally sent his resignation to the board, and preparations are underway for leadership transition.
A spokesperson for K-Electric, however, declined to either confirm or deny reports regarding Moonis Alvi’s resignation.
According to sources, once the resignation is approved by the board, the development will be formally communicated to the Pakistan Stock Exchange.
Moonis Alvi has served K-Electric for nearly 18 years and holds the record for one of the longest tenures as CEO of the company.
Reports further suggest that K-Electric Board Chairman Mark Skelton has already approved the resignation, while three candidates have been shortlisted for the position of new CEO, all reportedly belonging to Karachi.