Sacked Olympia CEO seeks millions in compensation

Investment firm Olympia faces a multi-million-shilling claim from former CEO Kenneth Kareithi who was forced out in February ahead of the departure of finance director David Kabeberi.

Mr Kabeberi resigned on April 3. The duo’s exit marks the latest changes to the company’s boardroom which kicked off in September 2012 with the resignation of major shareholder Paul Ndung’u.

Sources at Olympia told the Business Daily that the firm’s board disagreed with Mr Kareithi on strategy, leading to his acrimonious departure.

The former CEO, who replaced Michael Matu in September 2012, is now seeking compensation from the investment firm.