NAIROBI, Kenya, Jul 1 – Former UAP Group Managing Director Dominic Kiarie has quit after the UAP and Old Mutual Group merger.
UAP-Old Mutual Chairman Joseph Wanjui says Kiarie has left the new group at will and did not accept to take over any position. Kiarie had served as UAP MD since January 1, 2013.
“We regret Dominic Kiarie, former Group MD of UAP, has chosen not to accept the executive position offered,” Wanjui said on Thursday during the announcement of the new strategy especially on executive appointments.
Kiarie, who joined the organisation on August 1, 2011 was earlier the Executive Director of UAP Holdings Limited and the Deputy Group Managing Director of UAP Group.
“We thank him for his immense contribution to the success and reputation of UAP and wish him well in his future endeavours ,” Wanjui said.
Peter Mwangi, who was the Old Mutual CEO, takes over as new Group CEO while James Wambugu, formerly UAP Insurance Company Managing Director takes over as the group General Insurance MD
READ: Peter Mwangi to lead the UAP – Old Mutual Group
Jackson Theuri will be the group Chief Finance Officer, Charles Njuguna, MD Faulu Microfinance Bank and Patricia Kiwanuka the new group MD Asset Management.
Others are Isaac Nzioka who takes over as Medical Division MD, Charity Wainaina, Head of Marketing and Nkirote Njiru the new group Company Secretary and Legal Counsel.
Mwangi has assured that even as the group continues with the reorganization of the other members of staff, there should be no fear of job losses.
“From our point of view we see this merger focused on growth to create a much larger business. In fact, what we have seen now is that no employee is going to lose their job because of the merger. All employees are being retained and they have new roles with greater responsibility,” Mwangi assured adding that the group maybe seeking to hire more.
At the moment there are a total of about 2,000 employees.
UAP-Old Mutual Group plans to list at the Nairobi Securities Exchanges once all they get the required approvals, a process that could take about 36 months.