Stakeholders of East African Portland Cement PLC (EAPC) have strongly opposed the appointment of Bruno Obadha as the company’s new Managing Director, citing concerns over his qualifications and potential conflicts of interest.
In a statement released on Monday, the stakeholders expressed their dissatisfaction with the decision, emphasizing their support for the current Managing Director, Mohamed Adan, who they say has successfully steered the company toward recovery.
“We, the stakeholders of East African Portland Cement PLC, wish to express our deep concern regarding the recent appointment of Bruno Obadha as the Managing Director. This decision raises significant issues that threaten the progress and stability of the company while undermining the principles of fairness and meritocracy,” the statement read.
The stakeholders questioned Obadha’s technical expertise, alleging he lacks the qualifications necessary to lead the company effectively. They warned that his appointment could derail ongoing efforts to turn around EAPC and jeopardize its future.
“Appointing an individual without the requisite technical capabilities risks undermining the progress made thus far and jeopardizes the company’s future,” they said, further alleging that Obadha failed to meet the criteria set by the selection panel during the recruitment process.
The stakeholders also highlighted a potential conflict of interest, claiming Obadha’s involvement with a real estate firm that conducts business with EAPC poses risks to the company’s integrity.
In contrast, they praised Adan’s leadership over the past 10 months, crediting him with significant achievements, including increasing production capacity to over 50,000 tonnes per month, boosting the company’s share price from Sh5-7 to Sh53, and positioning EAPC on a path to recovery and growth.
“Adan emerged as the best candidate for the position. His exceptional leadership has been instrumental in restoring stability and growth at EAPC,” they said.
The stakeholders called on President William Ruto and the Head of Public Service to reverse Obadha’s appointment, warning that it risks undoing the progress made under Adan’s stewardship.
“We, therefore, demand that His Excellency the President and the Head of Public Service recall this undeserving appointment immediately,” the statement said.
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