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GDC and National Oil step up search for new chief executives

 

Two controversial State-owned energy firms have stepped up search for chief executives following the exit or impending departures.

State oil marketer National Oil and Geothermal Development Company (GDC) Tuesday separately advertised for the positions of chief executive.

Former Kenya Power executive Johnson P Ole Nchoe has been the managing director of the GDC since April 2016 and his term was last year extended for a year amid board murmurs.

National Oil has been in limbo after the resignation of MaryJane Mwangi last year after the board opted not to renew her contract.

The board then picked James Nyamongo, who works at Kenya Pipeline Company (KPC), to replace her.

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Mining and Petroleum Cabinet Secretary John Munyes overruled the decision five days later.

Yesterday National Oil chairman Kibuga Kariithi said the new CEO will hold office for a renewable term of three years.

GDC chairman John Njiraini yesterday said in a statement that GDC, whose key mandate is development of geothermal resources for energy generation, was looking for a managing director who will also serve as CEO.

Applications for the GDC role must be received by February 7.

National Oil, which was recently revealed to be surviving on bank overdrafts and facilities from commercial lenders, markets petroleum products, develops petroleum infrastructure, and is invlolved in exploration of oil and gas.

The State oil marketer has been eyeing to scale up its specialty facilities for cooking gas and lubricants.

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