NEWS FROM CORPORATE KENYA

UCHUMI SUPERMARKET TO RESTRUCTURE

Uchumi Supermarket is going through a tough time presently especially with its financial health but, says CEO Mohammed A Mohamed, attempts are on going to get out of it.

According to Mohamed, the company has set up a committee to identify and advise on options to settle creditors and/or restructure the company's liabilities.

The committee is also to identify and recommend a return to normalcy plan that will restock, rebrand and return of Uchumi to full operation.

At a time the crisis led to closure of Uchumi headquarters reopened since October 26 and the issues involved are for now being handled through the law courts.

BOC KENYA DIRECTOR RESIGNS

Mr Andy Gouws, a non executive director of the board of BOC Kenya has resigned with effect from December 13, 2018.

According to company secretary Ms Ruth T Ngobi he resign subsequent to his retirement from African Oxygen Ltd (Afrox), a member of the Linda Group which BOC also belongs.

At the same time, Mr Reuben Chetty, has been appointed as non executive director of the company.

Presently, he is the commercial and business development manager of Afrox which he joined back in 2007.

Chetty brings to bear years of involvement in the group in different sales and marketing positions.

He holds an MBA from the University of Witwatersrand , Bachelor of commerce from University of South Africa and a National diploma in chemical engineering from Durban university of technology.

CARBACID LOSES LONG SERVING DIRECTOR

When the Annual General Meeting of Carbacid Investments plc on December 11, 2018 Hon J M Wanjigi,  the company's long serving director, refused to stand for reelection.

Thus, says Company secretary N P Kothari,  he stopped being a director from that date after being one from the inception of the company in 1970.

In fact, between 2001 and 2016, he was chairman of the board .

At the same AGM, Eng Edward A Musebe was appointed an independent non executive director of Carbacid .

Musebe has a degree in mechanical engineering, masters in strategic management and pursuing a doctorate in the same discipline.

He was the CEO of Chemilil Sugar Company Ltd and also worked at different times and different levels with Unga Group ; East African Breweries and East African Cables apart from being non executive chairman of Kenya Broadcasting corporation between 2013 and 2016.

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