The Board of Directors of K-Electric Limited has elected Riyadh S. A. A. Edrees as the company’s new chairman with effect from April 9, 2020.
According to a press release issued by the company on Thursday, Edrees, has nearly 25 years of experience across the fields of construction, finance, oil & gas, telecommunications, and academics, initially joined the KE Board in November 2005 at the time of company’s privatisation and acted as a board member till May 2009. He rejoined the KE Board in July last year.
He is also the Chairman of Meezan Bank Limited (Pakistan), Chairman and Managing Director of Ikarus Petroleum Industries Company, and is a member of the board at a number of other companies. He also serves as the Deputy Chief Executive Officer at National Industries Group Holding, Kuwait.
He holds a BSc in Chemical Engineering from the University of Newcastle and an MSc in Chemical Engineering from Kuwait University.
“I am honored to lead K-Electric as its new Chairman. A trendsetter in the power sector, KE is one of the most successful cases of privatization in the country, and I look forward to working with all our stakeholders to take the Company further ahead.” said the newly-elected Chairman.
KE’s transformation, from a loss-making and debt-ridden strategic asset into a leading energy player today, underpinned by an investment of more than USD 2.4 billion dollars represents one of Pakistan’s most well-recognized operational turnaround stories and it is well-positioned to build on its existing success.
K-Electric benefits from a deep bench of talent and industry expertise, and the leadership team remains fully committed to continuing executing on strategic priorities through planned initiatives of around USD 3 billion over the next four years in all business verticals along with its customer-first approach, safety, reliability and sustainability initiatives, and regulatory strategy.