Kenya Power has appointed Vivienne Yeda as the new Chairman, Board of Directors replacing Mahboub Maalim. Yeda will be the first woman to serve as chairman of the board.
Ms Yeda is the director of East African Development Bank and an expert in foreign relations law, international economic law, business operations, and financial transactions in public and private sector operations including project finance and structured finance.
“We are excited and look forward to her stewardship, and that of the entire Board, as we pursue our growth journey,” Kenya Power said on Friday.
Vivienne Yeda was part of the non-executive directors appointed this year to help turn around the fortunes of Kenya’s sole power distributor.
She is an expert in Foreign Relations Law, International Economic Law, Business Operations, and Financial transactions in public and private sector operations including project finance and structured finance.
Ms. Apopo holds a Master of Business Administration (MBA) and Master of Laws (LLM) degrees. She has also served as a member of the Board of Directors of the Central Bank of Kenya since March 2011.
The outgoing Chairman Mahboub Maalim said:
“As I exit, I want to thank fellow board members, management, employees, customers, business, and all other stakeholders for their support,” he said.
Unaudited financial results for the period to June 2020disclosed that the utility company sank into a loss of KSh2.98 billion.
However, the Managing Director Bernard Ngugi said the company has recently rolled out a county-focused business model to help improve the firm’s fortunes.
“Our target this year is to grow sales by three percent driven by new customer connections, enhancement of revenue protection measures and supporting demand growth for customers,” he said.
