Uchumi sacks Ciano for gross misconduct, negligence
The board of Uchumi Supermarkets Ltd has sacked Jonathan Ciano as the chief executive for gross misconduct and negligence, a month before his term was set to expire.
The board says it made the decision to let go of Mr Ciano and chief finance officer Chadwick Omondi Okumu due to financial troubles that the retail chain is facing.
Mr Owino Ayodo, the General Manager of Operations, has in the meantime been appointed acting chief executive while the board goes ahead and recruits a new head and CFO.
The board will also sell non-core assets and use the funds to pay suppliers.
Uchumi, with presence in Kenya, Uganda and Tanzania, has been on an expansion drive to open 13 branches in Kenya, Uganda, Tanzania and Rwanda through a new business model that would see it lease premises and equipment in a bid to reduce capital expenditure.
