The board of directors of the Ibadan Electricity Distribution Company (Ibadan DisCo) has dismissed Kingsley Achife from his position as the company’s managing director.
The company communicated the decision in an internal memo dated May 31, saying that it chose not to renew Achife’s contract, appointing Francis Agoha as the acting managing director of Ibadan DisCos, effective May 31.
The statement read, “Dear colleagues, the board of directors of the Ibadan Electricity Distribution Company wishes to inform the staff that it has decided not to renew the contract of the current managing director, Kingsley Achife”.
“The Board expresses its deepest gratitude to Kingsley Achife for his contributions to the company and for laying the foundation for the ongoing turnaround,” it added.
The statement also stated that the board appointed Francis Agoha, the most senior executive, as the acting managing director of IBEDC, effective immediately, to work closely with the Board for a smooth transition.
The Ibadan DisCos board emphasised its commitment to providing reliable electricity services to its customers and stakeholders.
“We are confident that this change in leadership will accelerate our journey towards sustainable growth, improved performance, and a successful transition,” the memo from the management added.
