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HomeFEATURED STORYEast African Cables appoints new CEO

East African Cables appoints new CEO

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East African Cables has appointed Mr Paul Muigai as the new chief executive officer and executive director, taking over from Mr Peter Arina who resigned in August 2017.

Until his appointment, Muigai held the position on an acting capacity since September last year. Having held various roles at Univeler before, Muigai has amassed a wealth of experience in supply chain management, including production management, procurement operations planning, engineering and productivity improvement at various levels up to supply chain director level.

He has also held Asia-Africa and Africa Middle East regional expatriate roles in supply chain optimization and safety, health and co-efficiency both based in Singapore and Dubai respectively.

On his appointment, the board expressed confident on Muigai as the right player to “build the company’s existing strengths for future sustainability and growth.” Muigai holds a Bachelor of Science degree in mechanical engineering from the University of Nairobi.

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Arina resigned from the company in August 2017, marking the second such departure from the corner office in two years. Mr Arina’s exit coincided with a deterioration in the firm’s performance in the half-year ended June when sales, earnings and shareholder funds all dropped by double to triple digits.

He was appointed CEO in October 2015 to replace George Mwangi who had resigned a month earlier to launch his start-up milk firm, Countryside Dairy.

Mr Arina, who had left Safaricom as the chief commercial officer in 2014, resigned as the cable manufacturer’s net loss widened 7.4 times to Ksh232.4 million in the half-year ended June 2017.

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CAVIN ODHIAMBO
CAVIN ODHIAMBOhttp://www.businesstoday.co.ke
Cavin Odhiambo is a reporter with Business Today. He has passion in dealing with socio-economic and political matters . You can reach him on [email protected]
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