This archive report was first published on 29 October 2019.
On October 29, 2019, Kenya Power named Bernard Ngugi, the head of its procurement division, as its new Chief Executive Officer (CEO) effective immediately.
Ngugi, a Kenya Power insider with over three decades of experience, takes over from Jared Othieno, who has been the acting CEO since July 2018 following the exit of former CEO Ken Tarus.
Tarus was charged in court with conspiring to commit an economic crime and abuse of office, alongside his predecessor Ben Chumo and other senior managers. They have denied all the charges.
Kenya Power chairman Mahboub Maalim expressed confidence in Ngugi's ability to lead the company through a crucial stage of its development and growth.
Ngugi's immediate focus is to turn around the loss-making State-run firm's fortunes by implementing the company's 5-year strategic plan, which aims to deliver excellent customer service and ensure business sustainability.
The Nairobi Securities Exchange-listed firm has been struggling financially, breaching the terms attached to Sh59.6 billion worth of its loans and seeking to secure fresh short-term loans to refinance similar debts.
