Uchumi CEO Julius Kipng’etich quits

A tale of Kenyan supermarkets

Julius Kipngetich
Uchumi CEO Julius Kipng'etich. PHOTO: KENYAN WALLSTREET

A local chain of supermarkets is leaderless again, just months after it got a high-flying chief executive.

Uchumi Supermarkets CEO Julius Kipng’etich has called it quits barely two years after taking the helm of the retailer to try and resuscitate it after years in the doldrums.

uchumi taj mall
Uchumi Taj Mall. Property at the branch were to be auctioned over rent arrears. PHOTO: PLUS254

The Financial woes at the loss-making Uchumi led to the closing down of major outlets around the country with only a few stores remaining in operation albeit characterised by empty shelves.

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Mr Kipng’etich who left a coveted job at Equity Bank after he was offered the Uchumi one, officially left office on November 30. The Chief Finance Officer Mohamed Ahmed has taken over in an acting capacity until a new CEO is appointed.

His resignation comes on the back of calls by his staff for him to resign over their unpaid salaries in May and June.

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“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,” KahawaTungu quoted a worker at the firm’s Moi Avenue branch.