KARACHI: Karachi Electric Supply Company (Kesc) Thursday announced the resignation of its CEO, Naveed Ismail.

He will be replaced with immediate effect by Tabish Gauhar, an Executive Director at Abraaj Capital since 2006 and the former Group Chief Financial Officer (CFO) for Europe, Middle East, Africa (EMEA) of AES Corporation, the leading global power company.

Gauhar has sixteen years experience in the energy sector in Pakistan and regionally, led the management team that oversaw the acquisition of Abraaj’s stake in Kesc in 2008 and has been on the Board of the utility from earlier this year.

According to a Kesc spokesperson, ‘Gauhar hails from Karachi, has an intimate knowledge of Kesc and its potential, recognises the needs of the city and the necessity of taking the utility to another level in its transformation into a leading regional business.’— PPI