KenGen Goes For An Ex-Military As New Board Chair

Kenya Electricity Generating Company (KenGen) has named the former head of Kenya Defence Forces, General (Rtd) Samson Mwathethe as its new board chairman in what the board says is “bringing on board immense leadership skills.”

“Under General Mwathethe’s leadership, KenGen is committed to strengthening its stakeholder relations as we continue to build a responsive and dynamic business that takes into account emerging technological advancements and social trends,” KenGen CEO Rebecca Miano.

General Mwathethe will be replacing Mr. Joshua Choge who has served in that position since 2014. KenGen has been striving and making some good profits as compared to Kenya Power and Kenyans wish Kenya Power needs a military man too.

In September this year, KenGen extended the term for the current Managing Director, Rebecca Miano by three more years.

“During Mrs. Miano’s three-year tenure, the company has continued on an upward growth trajectory, consistently reporting good corporate financial performance despite a difficult operating environment,” Board chairman Joshua Choge said.

Miano took over the helm of KenGen in November 2017 replacing  Albert Mugo who retired on Friday 25th August 2017. She became the first woman to hold the position since the company was established on 1 February 1954 and has been hailed as “exemplary.”

In September, the Board of the Kenya Electricity Generating Company PLC (KenGen) recommended a dividend payout of 1.65 billion shillings for its shareholders for the year ended June 30^th, 2019.

In 2018, the company paid its shareholder 2.64 billion shillings in dividends which translated to Ksh 0.40 for every ordinary share.

Mrs. Miano observed that during the period ending June 2019, business remained resilient despite challenging economic conditions in the country and globally.

The KenGen MD said the projections indicate that the medium-term macro-economic environment will be tough, compounded by the economic shocks brought about by the Coronavirus Disease (COVID-19) Pandemic.

READ: KenGen Board Recommends Dividend Payout Of Ksh 1.65 Billion