Kenya Power Hires Deloitte To Handle Changes In Board Composition

Kenya Power has hired Deloitte 6 Touche LLP to lead the process of onboarding independent directors to the Board, in line with the recent amendments to the Company’s Articles of Association.

During an Extraordinary General Meeting that was held on November 10, 2023, shareholders approved the amendments, key among them the restructuring of the Board of Directors to reflect the Company’s shareholding structure.

Following the approval, four members will be elected by private shareholders (minority shareholders) while the other directors will be appointed by the National Treasury (majority shareholder).

“Deloitte & Touche LLP will oversee the nomination and election of the independent directors to give assurance on the integrity of the process and provide the required support to the Board of Directors. The changes in the structure of the Board of Directors are meant to safeguard the interests of both minority and majority shareholders, in line with good corporate governance practices,” Kenya Power said in a statement.

“Further, the changes are aligned to the Government’s commitment to transform Kenya Power into a commercially viable entity, by delineating development initiatives, to show the Company to operate on commercial principles.”