NAIROBI, Kenya, Jul 21-The Board of Kenya Power has appointed five new directors.
The new non -executive directors are now Sachen Gudka, who is the former board chair of Kenya Association of Manufacturers, Abdulrazaq Ali, Elizabeth Rogo, Caroline Kittony Waiyaki and Vivienne Yeda.
“The board congratulates the new directors on their respective appointments and looks forward to benefitting from their vast experiences at a time when the company is rolling out its growth strategy,” the board said in a statement.
The new appointments follow the resignation of the former independent directors last week.
“The board of directors of the Kenya Power and Lightning Company hereby announces the resignation of Adhil Khawaja, Kairo Thuo, Wilson Kimutai Mungung’ei Brenda Kokoi and Zipporah Kering as independent directors,” reads Kenya Power notice.
“The company would like to sincerely thank the directors for their commitment and dedicated service and wishes them the best in their future endeavors,” the board said in a statement.
The new changes at the electricity distributor comes after Kenya Power in June issued a profit warning saying that it has witnessed reduced electricity consumption due to coronavirus control measures and rising cost of buying wholesale power from firms like KenGen.
The state’s agency net profit for the six months to December declined 71.8 percent to Sh693 million, indicating that its troubles started ahead of Kenya announcing its first case of Corona on March 13.
However, its revenue rose by 1.34 percent to Sh133.1 billion pegged on electricity sales, increased power costs and higher finance costs.