FEATURED ARTICLE

Another bitter pill for Mumias Sugar as CEO sent home

Share
Mr Patrick Chebosi inspecting sugarcane farm
Share

Mumias Sugar Company chief executive  officer Patrick Chebosi has been sent on a compulsory leave, pushing the sugar miller deeper into crisis.

This comes as the troubled miller is anticipated to retrench 900 workers in February this year to cut operational costs.

Mr Chebosi had headed the ailing company for only seven months after taking over its leadership on June 2018 from Nashon Aseka.The circumstances leading to his suspension remain unclear, but it’s likely related to financial (mis)management.

In June 2017, Mr Aseka succeeded Errol Johnson who ran away from the country claiming that his life was in danger.

The former chief security officer at the company, Isaac Sheunda, will act in capacity until a fit candidate is hired for the position.

Confirming the appointment, the company’s board chairman Dr Kennedy Ngumbau said that the board wants to improve service delivery at the company.

READ: TELKOM TO SPLASH SH1 BILLION ON EXPANSION

“We shall  re-organize the management structure of Mumias Company following a recent audit carried out. We want to focus in making the company profitable in a period of six months by increasing its efficiency,” said Dr Ngumbau.

The miller,  once a giant cane processor, owes about Ksh2.7 billion to cane farmers and other suppliers.

With over 1500 workers, 900 of them will be sent home at a cost of Ksh400 million in order to control its wage bill that is estimated at Ksh40 million a month.

Written by
Brenda Gamonde

Brenda Gamonde is reporter with Business Today. Email: [email protected]

1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PAST ARTICLES AND INSIGHTS

Related Articles
Coop Bank
MARKETS

Co-operative Bank is Now the 4th Largest Listed Company

NSE (Nairobi Securities Exchange) now ranks Co-operative Bank as the 4th most...

Michael Mutiga
BUSINESSNEWS

Stanbic Bank Kenya Appoints former Top Safaricom Executive as its New CEO

Stanbic Bank Kenya Board of Directors has appointed Michael Mutiga, a former...

Home Afrika Ltd - Mitini Scapes
BUSINESS

NSE: Speculative Traders Push Up Home Afrika Share Price

NSE (Nairobi Securities Exchange) data shows that Home Afrika, which is listed...

SACCOs plan to list at the Nairobi Securities Exchange
ANALYSISSACCOs

SACCOs’ Plan to List At the NSE Gathers Pace

SACCOs (Savings and Credit Cooperative Societies) have yet to show any interest...