By all accounts, Mugo Kibati is an exceptional chap. According to this rather sugary profile by Generation Kenya, he has been a first in many arenas. And this explains my worries about who can fill his boots @ EA Cables. The company has many challenges not least increased competition to supply KPLC and the rest of Kenyan construction market. Its expanding extensively and that requires a committed and seriuos CEO.
Recent price fall in the counter reflects the nervousness about this situation.
3 comments:
Why did he leave?
The official answer is that he wanted a new challenge. The unofficial answer is that there were shall we say "discussions" about strategy touching on the financing (the loan taken to build the new fibre optic factory has affected cashflow) and the pan african expansion...
There is no shortage of well rounded CEO material in Kenya.The board members should cast their net wider and they will indeed get the right person.
We should also note that companies should look at market fundamentals as guiding principles for doing business that is sustainable, and not short term system/buddy in right place philosophy, that seems to be the case in the Narc government.
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