Margaret Odhiambo exits Eveready East Africa

Listed battery distributor Eveready East Africa has announced management changes with the exit of managing director Margaret Odhiambo after a three-year stint.

The Board appointed Thomas Masaki as acting managing director pending the appointment of a substantive MD. The firm’s Board said that Ms Odhiambo, only one of the seven female CEOs in the NSE, had played an integral part in implementing Phase 1 of the Company’s recovery strategy under its strategic plan 2018-2022.

“In her tenure, the company has recorded tremendous organic growth in its new growth drivers and through it achieved consistent year on year improvement in the company’s bottom-line decision. The Board wishes to thank Margaret for her service over the past 12 years,” said the Board.

Mr Masaki joins Eveready from Sameer Management Limited – a member of the Sameer Group – where he served as a manager in finance.

He has served on various boards including Yana Oil and Aristocrats Concrete.

Eveready East Africa, whose share was at Sh1.05 on Tuesday, has been on a loss-making streak and issued a profit warning early this year.