Chairman K-Electric Ikram Sehgal has resigned from his position. His resignation has reportedly been accepted by the board, sources said.
Ikram Sehgal was the businessman turned tech entrepreneur known for being Chairman of Pathfinder Group, which is Pakistan’s largest security services company.
A letter sent on Wednesday by K-Electric to the Pakistan Stock Exchange confirmed news of Sehgal’s resignation.
Ikram Sehgal was appointed chairman K-Electric after the resignation of Tayyab Tareen in January this year.
Ikram Sehgal had developed differences with other board members and that this decision was motivated by what he considers morally correct and in national interest, sources said.
However, there are speculations that some projects, including construction of a 900MW Power Plant and matters pertaining to the company’s future could have been the reasons behind Sehgal’s stepping down.
With more than 40 years of business experience, Ikram Sehgal had served as Chairman Pathfinder Group Pakistan, employing several thousand people in 50 towns and cities across Pakistan.
While serving in the Pakistan Army, Ikram Sehgal was the first Pakistani PW in history to escape from an Indian PW Camp.
He holds a Commercial Pilot License and later started his own business in 1977.