Kephar Tande, the outgoing East African Portland Cement Company chief executive. PHOTO | SALATON NJAU
What you need to know:
His predecessor, Mr Tande, started his second three-year term at the helm of EAPCC on November 16, 2013.
He holds an MBA from the Birmingham Business School in the UK, a Bachelor of Laws (LLB) and a BA Public Finance and International Relations from the University of Nairobi.
East African Portland Cement Company (EAPCC) has appointed former Barclays Kenya executive Simon ole Nkeri as its new chief executive officer, replacing Kephar Tande who was serving his last term.
A source at the cement manufacturer told Business Daily that Mr Ole Nkeri will report to work today (Friday) when his appointment will also be officially announced by the industrialisation ministry, the appointing authority. Mr Ole Nkeri has worked for Barclays where he was the head of commercial services.
His other corporate experience includes stints at the Capital Markets Authority where he was at one time the acting CEO and the National Social Security Fund where he was the general manager (operations).
He holds an MBA from the Birmingham Business School in the UK, a Bachelor of Laws (LLB) and a BA Public Finance and International Relations from the University of Nairobi.
His predecessor, Mr Tande, started his second three-year term at the helm of EAPCC on November 16, 2013.
Oscillating between losses and profits
His tenure has been a mixed bag of opportunities —with the company oscillating between losses and profits. EAPCC reported a net loss of Sh531 million for the half-year ended December 2015 compared to an after tax loss of Sh65.3 million a year earlier.
Mr Tande has also survived vicious boardroom wars between the government and Lafarge; as well as allegations of cooking books at a stormy shareholders meeting in December 2013.
The Treasury owns 25 per cent of Portland Cement and has traditionally added up to NSSF’s 27 per cent stake to exercise control at Kenya’s second-largest cement firm.
LafargeHolcim owns 41.7 per cent of EAPCC, and also holds a controlling stake of 58.6 per cent at rival firm Bamburi Cement.
EAPCC’s succession plan was jolted by the May resignation of chief operations officer Albert Sigei, a Lafarge executive who was poised to take over from Mr Tande.
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