Bidco appoints former Nakumatt exec as Group CEO
Bidco Africa has restructured its senior management team with the manufacture’s founder managers taking up board posts.
In the changes, group chief executive officer Vimal Shah becomes Bidco’s chairman and is replaced by former Nakumatt chief operating officer Thiagarajan Ramamurthy.
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The changes are part of the group’s transition strategy that has seen non family members take up senior executive positions in the day to day running of the company.
Founded in 1985 by Bhimji Depar Shah, Bidco has largely been managed by brothers Vimal Shah and Tarun Shah.
Mr Shah said the vision is to transform Bidco into a billion dollar business by strengthening both the board and management team.
“My brother Tarun and I will focus on mapping the company’s growth trajectory and identifying the right adjacencies for the business. The goal is to become a billion dollar business and to do that we have to grow 4 times. My new role is to figure how to make this happen,” he said.
Mr Ramamurthy’s or TRM as he is commonly referred to as, appointment comes just days after it was announced that he would be leaving Nakumatt where he had served for 15 years.
Tarun Shah said the change in management structure will improve Bidco’s overall performance.
“We have always wanted to make the transition from a family run to professionally run organization and this is the climax of that idea,” he said.
Bidco currently manufactures edible oils and detergents.
The fast moving consumer goods manufacture however plans to venture into the soft drink market and has already invested Sh20.6 billion to set up the factory in Ruiru.
Mr Ramamurthy will be tasked with expanding Bidco’s product offering as well as securing new markets.
“This is a company with a rich heritage and a big future; I look forward to delivering on the vision and promise of this incredible Kenyan brand,” Mr Ramamurthy said.
Bidco has 18 subsidiaries across Africa.