NAIROBI, Aug 25 (Reuters) - Kenya’s Uchumi Supermarkets has appointed a new chief executive to start in October after firing the previous CEO.
Julius Kipngetich, now Chief Operating Officer at Equity Bank and previously director of the Kenya Wildlife Service, had been appointed, Uchumi’s media consultant Kepha Bosire told Reuters.
Former CEO, Jonathan Ciano, who helped revive Uchumi in 2006 when it was put into receivership and given a government-led bailout, was ousted along with the chief finance officer after the chain fell behind on supplier payments.
The firm said in June when it announce Ciano had been fired that it was conducting an audit to see how cash from a rights issues was spent.
Ciano had told Reuters at the time that he had handed in his notice but did not elaborate on reasons for his departure.
“There is a business strategy review process going on,” said Bosire. “There is a lot of work going on to try and improve stocks in the shops. There is also a reorganisation to try and get the right people on board to drive the business.”
Reporting by Humphrey Malalo and Edmund Blair, editing by David Evans