KenGen approves sweeping board changes protect minority shareholders
By Bruno Aero Family Media Staff Writer KenGen managing director and CEO Peter Njenga, company secretary and legal affairs general manager Austin Ouko and board chair Alfred Agoi during the company’s Extraordinary General Meeting in Nairobi Shareholders have cut down its bloated board of directors to bring the number to nine. This makes the power generator the first state-owned enterprise to enhance compliance with the new Government Enterprises Act 2025, signed into law by President William Ruto last November. A key aim of the Act is to ensure the enterprises are efficient, financially self-sustaining, and aligned with national development priorities. KenGen shareholders have approved board structure changes aimed at protecting the interests of minority shareholders, cut down its bloated board of directors to nine, and reducing their terms to six years. The resolution was approved at an Extraordinary General Meeting held on Thursday, as private investors increas...
