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Kenya: Mumias Sugar Company has sacked the Chief Executive Peter Kibati and Commercial Director Paul Murgor. This after an audit report by KPMG found them responsible for losses amounting to Sh1.1 billion, arising from the importation of sugar without the board’s approval.
Board Chairman Dan Ameyo in a signed statement send to newsrooms Monday, said the decision was taken out of growing concerns over the miller’s sugar sales and distribution chain.
“The board after careful consideration of the nature and extent of involvement of members of management and the impact it had on the company — both from the financial and reputation point of view, has decided to terminate the services of the employees involved,” said the statement.
The board had send Kebati alongside Murgor on a two-month compulsory leave last April, as it investigated their conduct.
