Ciano was sacked as the Uchumi CEO in June 2015 for alleged gross misconduct and negligence/FILE
A notice to the Nairobi Securities Exchange, BAT says that Ciano has resigned for personal reasons effective Friday.
Ciano was sacked as the Uchumi CEO in June 2015 for alleged gross misconduct and negligence.
READ: Board ejects Uchumi CEO Jonathan Ciano
Uchumi Board Chairperson Khadija Mire said the action was taken amidst major challenges facing the company that include cash flow challenges that have resulted in suppliers not being paid on time.
The firm appointed Julius Kipng’etich as CEO from Equity Bank where he had been Chief Operating Officer since 2012 and previously headed the Kenya Wildlife Services for eight years.
The firm made a net loss of Sh3.2 billion for the year ended June 2015 owing to closure of regional outlets that include Tanzania and Uganda as part of its turnaround plan
Uchumi had reported a profit of Sh491 million in the same period a year earlier.
