Kenya Shell now becomes Vivo Energy
MONEY & MARKET
By - | February 7th 2013
By Macharia Kamau
Polycarp Igathe is the new managing director of Kenya Shell, which has also changed its corporate identity to Vivo Energy following change in ownership.
Mr Igathe, who has until now been the regional MD of consumer goods manufacturer Haco Tiger Brands, will have an immediate task of growing the oil marketing company’s market that has for some time now been slipping.
Global energy firm Royal Dutch Shell sold majority stake in its African business that mostly deals with retail, distribution and storage of petroleum products. The business was acquired by Vivo Energy that is 40 per cent owned by Vitol, 40 per cent by Helios Investment Fund and 20 per cent Shell.
The change of name to Vivo Energy will only affect the corporate identity. Retail outlets will continue bearing the brand Shell. Other products that will bear the brand name shell include lubricants. “The brand will always remain as Shell. What will change is the name of the company but we feel that Shell is a reputable and strong brand,” said Christian Chammas chief executive Vivo Energy.
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