Uchumi CEO Julius Kipng’etich Resigns, CFO Mohamed Ahmed To Take Over In Acting Capacity

Julius Kipngetich, standard group
Julius Kipngetich
Julius Kipngetich, standard group
Julius Kipng’etich

The Uchumi Supermarkets CEO Julius Kipng’etich has resigned  just two years after he was appointed to try and resuscitate the retailer which has been facing financial woes for years.

The Financial woes at Uchumi has seen it close down major outlets around the country with only a few stores remaining in operation.

Read:Exposed: Brand Kenya CEO Mary Luseka Insults Employees, Brags About ‘Squeezing balls’.

Julius Kipng’etich’s resignation was effective from November 30. The Chief Finance Officer Mohamed Ahmed is set to take over in acting capacity until a new CEO is appointed.

His resignation comes months after the staff at Uchumi called for his resignation over unpaid salaries in the months of May and June.

“The CEO has failed the company…it is high time Kipng’etich vacated the office so we can have effective leadership and a vibrant workforce,” one of the workers at the Moi Avenue branch was quoted earlier in the year.

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Written by Merxcine Cush

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