NAIROBI, Kenya, Oct 29 – Kenya’s electricity distributor Kenya Power has appointed Bernard Ngugi to head the NSE listed company as Managing Director and Chief Executive Officer.
Ngugi, who has been the utility firm’s General Manager in charge of Supply Chain, takes over from Jared Othieno, who has been serving on an capacity since July 2018.
The board’s Chairperson Mahboub Malim Mohammed described Ngugi as the “best fit for the job, owing to his financial and revenue accounting expertise.”
He will take the company to the next level, Mohammed said.
Ngugi is a Certified Public Accountant of Kenya and a member of the Institute of Certified Public Accountants of Kenya.
He is also a Certified Public Secretary of Kenya and a member of the Institute of Certified Public Secretaries of Kenya.
Commenting on his new appointment, Ngugi promised to steer the company towards profitability.
“My immediate focus is to lead the Company towards improved profitability while ensuring the business fulfills its socio-economic purpose. This will be achieved by implementing our 5 Year Strategic Plan that broadly aims at delivering excellent customer service and ensuring our business sustainability,” Ngugi said.
The position fell vacant after Ben Chumo’s three-year reign as CEO ended in January 2017 after his bid for a second three-year term was thwarted through a court order which barred Kenya Power from renewing his tenure at the company.
The utility company appointed a caretaker management team last year, which included Jared Othieno as acting chief executive after his predecessors Ken Tarus, Ben Chumo and other company officials were arrested and charged over alleged irregular procurement for supply of transformers.
The company recently extended the caretaker management team’s tenure by four months pending restructuring of top management.
“I’d like to thank Othieno and his team for steering the company in the direction that it did and for a job well done,” Mohammed said.