PE funds looking bad on Paunrana’s ARM

Padreep Paunrana. FILE PHOTO | NMG

Perhaps this is not the appropriate time to write the story of the rise and fall of Padreep Paunrana, corporate titan and long serving chief executive of the listed company Athi River Mining Ltd #ticker:ARM.

I may have to wait until the board of the company finally appoints a new CEO to take over from Mr Paunrana. In a recent regulatory filing, Company Secretary, John Moenga, revealed that the board was at an advanced stage of hiring his replacement.

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