Uchumi supermarket CEO Julius Kipngetich has resigned two years after his appointment to head the struggling retailer.
The board has appointed chief finance officer Mohamed Ahmed to act as they commence the process of identifying a suitable successor.
“The board has accepted with reluctance the resignation of Kipngetich with effect November 30 to pursue interests,” chairperson Catherine Ngahu said in a statement on Wednesday.
“In due time will unveil the identified successor,” she said.
Ngahu thanked Kipngetich for his dedicated service to the company during his tenure and wished him well in his future endeavours.
Before he joined Uchumi, Kipngetich served as Equity Group Holdings Limited chief operating officer from October 2012 to September 2015.
He also served as KWS CEO between December 2004 and September 2012. He also served as the managing director of Investment Promotion Centre and is currently a member of the Standard Group board.
Kipngetich holds a Master’s degree in Business Administration and a Bachelors of Commerce degree (Accounting) from the University of Nairobi.