Eveready East Africa has appointed Thomas Mong’are Masaki as the interim managing director following the exit of Margaret Odhiambo after a three-year tenure.
The firm’s Board said that Ms Odhiambo, the only one of the seven female CEOs in the NSE, had played an integral part in implementing Phase 1 of the Company’s recovery strategy under its strategic plan 2018-2022.
Ms Odhiambo became the firm’s first female MD after taking over in February 2019 from Jackson Mutua.
“In her tenure, the company has recorded tremendous organic growth in its new growth drivers and through it achieved consistent year on year improvement in the company’s bottom-line decision. The Board wishes to thank Margaret for her service over the past 12 years,” said the Board.
Mr Masaki joins Eveready from Sameer Management Limited – a member of the Sameer Group – where he served as a manager in finance.
He has served on various boards including Yana Oil and Aristocrats Concrete.
He holds a Bachelor of Arts degree in Technology and Management from Moi University and has more than 19 years of experience in finance and as a board member.
Eveready East Africa’s unaudited results for the six months ended 31st March 2020, the Group made a pre-tax loss of KSh 14 Million compared to a pre-tax loss of KSh 38.7 Million the prior year.
The Company’s major brands include Eveready, Energizer and Shick. Energizer includes Everyday Use Batteries, High Tech Batteries, Rechargeable Batteries. Eveready products include heavy-duty batteries, super heavy-duty batteries, general-purpose batteries and flashlights.
The current share price of Eveready East Africa Limited (EVRD) is Ksh 1.01.