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Julius Kipngetich resigns barely 2-yrs after initiating a recovery plan

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Uchumi Supermarkets Chief Executive Officer Dr. Julius Kipngetich has resigned just two years after being appointed to turn around the struggling retailer.

In a statement Uchumi board of directors stated that they have reluctantly accepted his resignation, and will unveil his successor once the process of scouting for a new CEO is done.

Interim Chief Finance Officer, Mohammed Ahmed Mohammed takes over as acting chief executive officer .

Kipngetich who was poached from Equity Bank was appointed on August 26, 2015 and has helped Uchumi improve margins in a challenging retail environment.

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