Coffee grower drops chair as Tatu stages coup

Rendeavour founder Stephen Jennings (right) flanked by Tatu City Limited Chief executive officer address a press conference in Nairobi on 14/05/2015 over Tatu city Sh9 billion land fraud case.PHOTO DAVID NJAAGA

Listed coffee grower Eaagads has dropped its chairman in a move reflecting broader changes as foreign shareholders take a tighter grip on Tatu City.

Company filings made on Thursday indicate that Lucas Omariba, who has previously doubled up as chief executive of Tatu City, had been replaced months after majority shareholder New Zealander Steve Jennings staged a corporate coup. Omariba was fired as the proposed city chief executive in March. The firm reported that board of directors met Wednesday and accepted the resignation by Mr Omariba even though the events of past months in the two companies he was a top official point to a different story.