FEP Holdings appoints new CEO

Fountain Enterprises Programme (FEP) Holdings has appointed Maurice Korir as its new chief executive officer to steer the operations of the company. The firm has interests in real estate, ICT, energy, education, finance and hospitality sectors.

Mr Korir, who has served as Chief Operating Officer of FEP Holdings since 2014, takes over the reins of the company as part of a succession plan that will see Dr John Kithaka, the founder and outgoing CEO, retained on the Board as director.

Speaking on behalf of the Board of FEP Holdings, the Chairman, Eng Erastus Mwongera said Mr Korir had a stellar performance management and corporate governance track record, as well as the requisite experience in change management to unlock the group’s fortunes.

“Korir has successfully headed the first phase of our restructuring process, through which we have realised 45 per cent revenue growth and similar reduction in operational costs in just one year,” said Mwongera.

The first phase entailed operational restructuring and setting up of corporate governance structures, while the second phase will be the implementation of a five-year strategic plan that seeks to grow revenues and attain profitability as well the shareholder value.

Korir is a certified public accountant with a Master in Business Administration and a Bachelors of Commerce Degree in Finance from the University of Nairobi.