Kenneth Marende to chair Kenya Power board

Former speaker of the National Assembly Kenneth Marende, was on Monday elected chairman of the board of directors of Kenya Power.

The 58-year old succeeded Mr Eliazar Ochola who was removed from the panel at the company annual general meeting held last month after serving a four-year term.

“Our board of directors could not have chosen a more qualified individual to serve as chairman at this momentous time when the company is implementing major projects to improve quality of service and expand the network to meet demands of the growing  economy,” said Kenya Power Managing Director Ben Chumo.

This is Mr Marende’s second government-backed appointment after being named Kenya’s representative in the African Union delegation dealing with Central African Republic’s conflict resolution.

Mr Marende was elected to the board by the company’s shareholders, with state help, given its 50.8 per cent shareholding.

Kenya Power has 27,000 shareholders who exercise weighted voting rights where one share is equivalent to one vote.

Others who were elected to the board include Mr Adil Khawaja of Hamilton, Harrison & Mathews, and Mr Wilson Kimutai, an investment banker at Quadrix Capital Management.

Mr Marende is a lawyer and was elected parliament speaker in the Grand Coalition Government in 2008. He made his debut in politics in 2002 when bagged the Emuhaya constituency seat.

While accepting the position, Mr Marende said he would render services to ensure the company meets its objectives.

“I look forward to working with the board in support of the management and employees of Kenya Power in order to sustain the company’s business growth and enhance customer service for the benefit of shareholders and the economy at large,” said Mr Marende.