Savannah Cement has begun a recruitment process to replace its founding Managing Director and Chief Executive, Ronald Ndegwa who has opted out under unclear circumstances.
The Cement maker board of Directors, on Friday announced it hard confirmed request for early retirement from Ndegwa who it said was pursuing other professional and personal interests.
“Following the Board’s consideration, the request has been accepted, and a mutual separation agreement amicably reached; effective 1st August this year,” said the company in a statement.
Ndegwa was voted Kenya’s overall CEO of the year during the 2019 Company of the Year Awards (COYA) for turning around fortunes of the cement maker.
The awards ran under the theme, Driving Transparency and Accountability in Organisations.
“In line with sound corporate governance protocols, the Board will commence an immediate international competitive recruitment process to fill the Managing Director’s position and facilitate the smooth running of the business,” said Savannah Cement Board Chair Benson Ndeta.
Ndeta lauded Ndegwa as a sound and strategic leadership for this business for the last six years and eight months he has been at the helm of the company.
“During his tenure, Mr. Ndegwa, in conjunction with the Management team, has seen the business through challenging times and steered the ship steadily to our current credible market positioning as an award-winning cement manufacturer and respected development partner,” said Ndeta.
Ndegwa oversaw formulation and ongoing execution of the company’s five-year strategic plan that focuses on the delivery of strong financial and operational results, a foundational structure of future growth that will see Savannah Cement heavily banking on the local and regional market opportunities and commissioning of its second line featuring new generation, dust-free cement manufacturing systems.
These the board said enhance the firm’s environmental conservation commitments alongside the market delivery requirements which will ultimately have a positive impact on its bottom-line.
“Undoubtedly, Mr. Ndegwa has left a remarkable footprint at the local and international levels and propelled the Savannah Cement brand to new horizons that were seemingly impenetrable,”said Ndeta.