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Thursday, August 03, 2006

CEOs & Managers Resign in Protest of Government Interference at East African Portland Cement!

Corporate Heroes?

Kenyan CEOs have come of age where they will resign in the face of intereference! I wish the Mr. Ole Mapelu & his managers the best!

KBC carried this story. I wonder how long the quality march on KBC will last considering the government is interfering again!

It is this blatant interference that brought down KR, KPTC among tens of firms controlled by the government. The business of business is business! The government's job is to create a an environment that fair for all & allows for businesses to thrive thus uplifting the standards of living!

EAPCC had started making large profits under Mapeyu. It was on course to expand in Rwanda & Sudan! This was growth unprecedented for them. For many years EAPCC palyed second fiddle to Bamburi but was showing its mettle!

EAPCC could have gone the same way as KQ but might end up as Uchumi! I believe EAPCC should be removed as a "parastatal" thus freeing it from the whims of government crooks!

Kituyi has been adversely mentioned in the Nation of complicity in certain shenanigans. Please no more Commissions of Inquiry on this matter! How do we find out the truth?

In 2003 the government tried to get their nominees onto KQ's board but KLM brilliantly outmanouevered them coz of shareholder support + their 26% ownership. Further KLM has the RIGHT to appoint the MD & FD. Thank heaven for small favours!

All the best to Mr. Mapelu & the managers who did the honourable thing!

Sad but true...

4 comments:

bankelele said...

points figure square at the minister and the chairman

pesa tu said...

Shows you how important the State Corporations Act is and how investors in KENGEN have forgotten this.

Anonymous said...

Strange, but the ex-MD himself has not made any comment on why he resigned. All that you read in the media is just speculation.

coldtusker said...

@anon - It does not benefit Ole Mapelu to make a statement since character assasination is alive & kicking in Kenya.

Poodle #1 (wako) is ready to sue for libel & slander on the crooks' behalf while terminating REAL injsutices like when roocy (kibz wife) slapped the journalist & we have that on TAPE.

Of course, we have no action on Goldenberg or Anglo-fleecing!

Ole Mapelu might make a statement if to defend himself but the truth will come out.