MUMIAS, Kenya
Mumias Sugar finance director Chris Kisire has resigned, barely a year after he was appointed. The company announced on Monday Mr Kisire’s resignation effective July 31, adding that his position had already been taken by former Treasury Accountant Geoffrey Ouma in an acting capacity.
Mr Kisire was appointed finance director last September, replacing Peter Kebati who was appointed CEO after the current Governor for Nairobi Evan Kidero quit the position to run for political office. The country’s biggest grower and miller of sugar plunged into a loss of Sh1.58 billion in the first half to December from a profit of Sh1.26 billion in a similar period a year ago.
The company warned in February that its profit would tumble by at least a quarter in its full fiscal year to end-June 2013 after drought hurt its cane output and earnings in the first six months.
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