Former head of Uchumi Supermarkets Julius Kipng’etich has been appointed as the CEO of Jubilee Holdings.
“We wish to advise that the board of directors has appointed Mr Kipng’etich as the regional CEO of Jubilee Holdings Limited with effect from January 1, 2018,” Jubilee said in a statement to the Tanzanian, Kenyan and Ugandan bourses.
In November 2017, Kipng’etich resigned as Uchumi Supermarkets Limited Chief Executive Officer after two years of service in the struggling retailer. In a public notice, the supermarket informed its shareholders and stakeholders that the board of directors had accepted without reluctance the resignation of Dr Kipng’etich as the company’s CEO. Dr Kipng’etich was also appointed as an independent non-executive director of The Standard Group in October 2017.
Jubilee Holdings’ net profit for six months ending June 30 2017 increased 18.99 per cent.
“He brings to the group considerable knowledge and experience in strategy and management. The Board welcomes him to the Jubilee Holdings Group and looks forward to his valuable contribution,” Jubilee said in its statement.
Before joining Uchumi, Kipngetich served as the Chief Operating Officer of Equity Group Holdings Limited from October 2012 to September 2015. From December 2004 to September 2012 he had an eminent career as Director and Chief Executive Officer of Kenya Wildlife Service.
He also served as the Managing Director of Investment Promotion Centre and held senior positions at the University of Nairobi. Kipng’etich also serves as a Non-Executive Director of the Kenya Tea Development Agency Limited (MS) and Kenya Deposit Insurance Corporation.