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Former Uchumi CFO Chadwick Okumu Replaces Daniel Ndirangu As Tuskys Financial Controller

tuskys cfo, chadwick okumu
Former Uchumi CFO Chadwick Okumu. [Courtesy]

Retail chain Tuskys has picked former Uchumi Chief Financial Officer Chadwick Omondi Okumu as its new financial controller.

Okumu takes Daniel Ndirangu’s place after he tendered in his resignation in December 2019 but stayed on to serve his notice period until July 2020.

Okumu worked as the Head of Finance for eight years at Uchumi and in various finance capacities at Reckitt Benchiser and Keroche Breweries.

He was sacked in 2015 alongside the then Uchumi Chief Executive Officer Jonathan Ciano over allegations of “gross misconduct and gross negligence.”

Read: Court Gives Struggling Retailer Tuskys 45 Days To Pay Creditors Or Risk Liquidation

In September 2016 he was arrested over allegations of unscrupulous dealings at the supermarket chain following an audit by KPMG.

The report indicated that Uchumi lacked an adequate background and quality checks that led to the acceptance of conflicted suppliers, substandard products and dubious trade agreements, the Nation reported.

It also showed that over 45 per cent of the procurement staff did not meet the minimum qualifications set in the retailer’s human resource guidelines.

The report revealed that Ciano allowed his wife to supply fresh produce to the supermarket.

Read Also: Tuskys Siblings To Lose Ownership If They Default Ksh2 Billion Loan

Tuskys is seeking to turn its fortunes around after receiving a Sh2 billion debt capital from a Mauritius-based investor.

Last week, a Nairobi court gave the retailer 45 days to pay its suppliers or risk liquidation.

In the case filed by electronics dealer Hotpoint and supported by 12 other creditors, the cash-strapped retailer asked for 45 to 60 days to come up with a payment plan.

Justice Francis Tuiyott, however, ordered the retailer to report back in 45 days noting that they had not reached out to the creditors.

Tuiyott also stated that Tuskys had in the past declined to meet the creditors demands.

“You’ve heard the concern of the creditors, they need a quick closure of the matter and you need to share information with them. I will require you to report to the court within 45 days and if you’ll not disclose the information this court will frown upon it,” the judge said.

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Written by Eva Nyambura

Content creator at Kahawatungu.com | Passionate about telling the untold story. Lover of life, music and technology. Simplicity is KEY

Email: news@kahawatungu.com

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