The Board of Directors of UAP Holdings PLC today announced that Peter Mwangi, the CEO of its Nairobi-publicly trading Group has resigned to pursue new interests, with effect from 14th April 2020.
The Chairman of the Board, Dr JB Wanjui noted that Peter is credited with the integration of the UAP Old Mutual Group including Faulu Microfinance Bank Limited and the entrenchment of a strong governance culture which has translated to improved performance of the underlying subsidiary companies. The Board and Management of the UAP Old Mutual Group take this opportunity to acknowledge and extend their sincere gratitude to Peter for his visionary leadership, unwavering dedication and service, and wishes him every success in his future endeavors.
Dr Wanjui remarked that, “Peter’s departure is a regrettable loss, but we wish him nothing but the very best as he embarks on the next phase of his career.”
Mwangi, who has led the East African business for five years, will be succeeded from 15 April 2020 by Arthur Oginga who currently serves as the Chief Operating Officer for Old Mutual Africa and over the last two years has been the Acting Chief Financial Officer for UAP Old Mutual based in Nairobi.
While making the appointment, the Board expressed confidence in Arthur’s ability to take the helm as the Group CEO of UAP Old Mutual. Dr Wanjui highlighted that Arthur’s appointment has been made possible by UAP Old Mutual’s robust succession planning and talent pipeline which has proved to be very strong, thus enabling the Board to make the internal appointment with great confidence.
Dr Wanjui emphasized that, “Arthur is not only familiar with the East Africa business, but is also highly experienced and able to take the helm and enable a seamless transition.
Arthur will also provide the necessary stability during these turbulent times globally, to steer the business to the next level without any undue internal disruptions.” As such, the Business will continue to deliver on its commitments to its customers and business partners.
|Fund Name||Currency||Daily Yield||Effective Annual Rate|
|Old Mutual Money Market Fund||Kenya Shillings||6.98%||7.21%|
|Fund Name||Currency||Buying Price||Selling Price|
|Old Mutual Equity Fund||Kenya Shilling||355.01||355.01|
|Old Mutual Balanced Fund/Toboa||Kenya Shillings||144.74||144.74|
|Old Mutual Bond Fund||Kenya Shillings||101.08||101.08|
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