East Africa Portland Cement Company (EAPCC) has appointed Mr Daniel Kiprono as the acting managing director.
Kiprono takes the place of Mr Stephen Kyalo Nthei, who has also held the position in an acting capacity since May 2019.
“The Board of Directors of the Company wishes to Inform the shareholders that Mr Daniel Kiprono has been appointed as the Acting Managing Director of the Company with effect from 8th February. 2021,” the company said.
Daniel Kiprono joined the Company in August 2000 and has served In various roles including as Financial Accountant, Internal Auditor, Procurement Manager, Senior Internal Auditor and currently Head of Internal Audit.
He previously worked at the National Irrigation Board where he rose to become the Chief Accountant. He holds a Masters degree in Business Administration (MBA) in Finance and Bachelor of Commerce Degree.
He is a Certified Public Accountant and a member of the Institute of Certified Public Accountants of Kenya (ICPAK). He has also attended Programme for Management Development Course at Strathmore Business School.
The board however did not announce the fate of Mr Nthei, who was plucked from his position as Head of Financial Management.
EAPCC has been in financial turmoil in the last few years, shedding its market share to 15 percent as of 2019, as compared to market leaders Bamburi with 33 percent followed by Mombasa Cement at 16 percent.