Uchumi Supermarkets has appointed John Karani as the new acting chair of the Board. This follows the retirement of Catherine Ngahu as the board chairperson.
The former chair’s three-year term expired and chose not to carry on her duties as stipulated in her portfolio. The management hopes to appoint a substantive head in due course.
“The board acknowledges the contributions Ngahu has had in the company especially in identifying potential investors,” said Chief Executive Mohammed Mohammed.
Ngahu tried to salvage the retail chain from collapse in terms of cost management, digitalization and franchising.
The store has been wooing investors to pump in Sh5 billion as it seeks to grow its profits well as settling its debts with creditors.
Mohamed earlier on said, “we are embarking on a recovery plan in franchising model, digital strategies and sale of assets and expect the plans to bear tangible results.”