Karachi: K-Electric (“KE”), through an official press statement, today informed media that Tabish Gauhar had completed his tenure as Director and Chairman of the Board of KE and has chosen not to continue for another term for personal reasons. The shareholders and the directors of KE recognize the valuable services of the outgoing Chairman Mr. Tabish Gauhar to the Company in his capacity as Director, Chief Executive Officer (CEO) and Chairman. Mr. Gauhar has been closely associated with KE for more than seven (7) years as CEO and Chairman.
Under his leadership, the Company made significant progress in key operational and financial indicators and generated a profit for the first time in 17 years in 2012 and subsequently. This business turnaround – both operational and financial – was achieved as a result of his dynamic leadership, commitment, and professional approach, despite operating in challenging conditions, and has been widely acknowledged by stakeholders and employees.
Pursuant to the requirement of Companies Ordinance 1984 and KE Memorandum and Articles of Association, the KE Board of Directors (BOD) shall shortly appoint a new Chairman of the Board.
KE’s Management and Board Members wish Mr Gauhar the very best, and hope that he meets the same level of success in the future that he has achieved thus far.