Portland picks Ole Nkeri as new CEO

The East African Portland Cement (EAPCC) board has appointed Simon Peter Ole Nkeri as its new Chief executive officer effective August 5.

He takes over from long serving CEO Kephar Tande who’s second term in charge was to end in Mid November.

It is not clear why the board decided to fast track ole Nkeri’s appointment having kicked off the recruitment process in mid June. It was also the first time the board was conducting the recruitment process, after previously favoring the use of human resource consultants to recruit senior executives.

“The appointment of Mr Simon Ole Nkeri will take effect on Friday 5th August 2016 and we look forward to working with him and the EAPCC team to overcome the many challenges that lie ahead and grow sustainable shareholder value,” EAPCC chairman Bill Lay said in a statement.

Mr Tande was hired by the cement maker in 2007 before being appointed as CEO in 2010. His stint at the Portland was marred by vicious shareholder battles pitting the government against Larfage over control of the company.

Prior to his appointment, Mr Ole Nkeri worked with the National Social Security Fund, Barclays Bank and the Capital Markets Authority before delving into politics.

He holds a BA Public Finance and International Relations from the University of Nairobi as well as a masters from the Birmingham Business School.

He joins the cement maker is struggling to make profit. For the six month period ended December 2015, EAPCC posted a net loss of Sh531 million on the back of slowing sales and high operating costs.

Tags:

EAPCC Portland Cement cement Simon Peter Ole Nkeri Kephar Tande

Want to send us a story? Submit on Wananchi Reporting on the Citizen Digital App or Send an email to wananchi@royalmedia.co.ke or Send an SMS to 25170 or WhatsApp on 0743570000

Leave a Comment

Comments

No comments yet.

latest stories