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Tuskys appoints new Chief Financial Officer

Tuskys outlet in Nairobi (PHOTO: FILE)

Troubled Tuskys has tapped an ex-Uchumi executive for its top finance job as part of turnaround efforts.

Tuskys has since last year operated with an acting CFO after the previous one Daniel Ndirangu resigned in December.

Tusker Mattresses chief executive Dan Githua said that Mr Chadwick Omondi Okumu would bring an “extensive retail experience” into the company.

“We are introducing Chadwick Omondi Okumu who is joining us as a chief finance officer. He has a 16 years of experience in increasingly responsible roles in diverse industries.”

“He brings with him extensive retail experience having worked for Uchumi Supermarkets as the head of finance for eight years,” said Githua to staff.

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Has also worked for Reckitt Benckiser East Africa as head of finance operations, Celtel Kenya as strategic planning manager and Keroche Breweries as chief finance officer.

On top of sacking 1000 workers, the retailer has seen an exodus of top bosses including in supply chain officials, branch managers and a top security official over reasons varying from delayed pay and the future of Kenya’s second largest supermarket chain.

The family-owned retailer is in the weakest financial position of all the country’s supermarkets, reeling from debt running into billions of shillings owed to suppliers, staff and landlords.

It said it had acquired a Sh2billion facility from an offshore fund to keep afloat and has already received Sh500 million as part of the first tranche.

At the end of last month, the High Court gave the troubled retailer 45 days to pay millions owed to creditors.

Read the Original Article on The Standard