KARACHI: Hub Power Company (Hubco) CEO Khalid Mansoor resigned on Tuesday, according to a regulatory filing on the Pakistan Stock Exchange (PSX).

He will be replaced by Kamran Kamal, who is currently serving as CEO of Laraib Energy, a subsidiary of Hubco, Pakistan’s largest independent power producer.

Mr Mansoor headed the company for eight years during which its electricity production capacity more than doubled from 1,600 megawatts to 3,581MW.

Speaking to Dawn, Mr Mansoor said he would not join any other company or institution in the foreseeable future. “All my big plans for Hubco have materialised. Negotiations with the government for receivables are over. We have received the first payment. It’s a big milestone for me,” he said. “I want to do social work and take stock of my life.”

The share price of Hubco decreased 0.3 per cent to Rs79.90 on the PSX.

Published in Dawn, June 9th, 2021