Long serving Nakumatt Holdings
boss Thiagarajan Ramamurthy has left the retailer after a 15-year stint.
Chief marketing officer Andrew Dixon has been appointed to succeed him as regional director in the latest management changes that the company says are necessary to cut costs and boost business operations.
“The departure of Mr Ramamurthy.comes at a defining moment in the history of Nakumatt and we sincerely
wish to extend our gratitude for his service to this organisation,” said Nakumatt’s MD Atul Shah.
Mr Ramamurthy was often the public face of the retailer, representing the company in multiple media and conference appearances.
He was also an evangelist for the
new face of Kenyan retailing at a time when Nakumatt was on a rapid expansion drive.
The latest executive shakeup, which comes ahead of a deal to offload a 25 per cent stake to a deep-pocketed investor, also saw Mr Srihari Vemula become the new chief operations manager while Mr Bernard Mutua and
Sameer Shah were retained as joint country managers in Uganda.
Mr Daniel Kimweli and Mr Srinivasan Suresh retain their positions in Tanzania while Mr Adan Ramata will continue to head the subsidiary in
Rwanda.
Mr Shah added that further
restructuring will take place across their 65 stores where top
management teams will be slashed to further reduce operational costs.
The retailer will also adopt a new
group and regional management
structure with Nairobi continuing to serve as the regional headquarters complemented by in-country management teams in Rwanda, Tanzania and Uganda.
The rise and fall of nakumatt
Nakumatt will be back, the shares sale is begged on debt and the new strategic owner have ensured their acquired equity payment is in line with complete debt payout. Then after the restructuring can be completed and new investments made in line with their new strategic plan. What has helped Nakumatt is customer loyalty and the still have a large footprint in their stores. Once they payout their suppliers, business will resume at full pace. However they need to recourt the public again. Their price mix-up really put a damper on their brand.
Fondly known as TRM way before even Thika rd Mall was built.
Hapa wanetunyoa. Around 2009, he had resigned from Nakumatt and joined Simba Colt motors where he stayed for about 4 years and the rejoined Nakumatt in 2013.
He joined Nakumatt in 2002…
Hii Mambo ya Brick & Mortar Retail stores ni outdated. They are not making any money to justify the rents in malls.I have been at Garden city on weekdays,No one is shopping at Nakummat or Game…Supermarkets used to make money on high margin items like TV, hifis,fridge shoes clothes etc. Hizi vitu ziko na online stores and merchants wa FB. Nakumatt will only sell vegatables, unga na mchele
Yap hata hii yao iko karen crossroads unapata hakuna line and out of maybe 10tellers only 2 are busy with few customers,ndani ya super hakuna traffic ya wananchi wakifanya shopping…:eek: But across the road, The new Hub Mall on your way to Dagoretti Ndonyo(Market) there is too much traffic & their newly launched Carrefour supermarket(Anchor tenant) has so many people shopping like crazy coz their prices are abit cheap.The Hub killed Karen crossroads according to my opinion.
word is he is the new Bidco CEO
We are investing in the wrong places. Brick and mortar stores will be in for a shock. Nakumatt should do what Walmart is doing to survive. But lots of these small popular e-commerce sites. I mean in Nigeria for example e-commerce has become a very big deal. Something like Nigeria’s Jumia has raised over 200m USD dollars by 2yrs ago and are probably valued at over 1bn USD by now. Konga is another big one.
They have better margins due to the lower cost of operations. Plus it’s easier to reach a larger audience.
Bidco is upping their game. First catch was Diaz who in my view is among the best marketing guys in KE
Bidco is a very stable company with plants all over africa.Pitty that its family owned and has a bad reputation of not paying taxes.
All large companies don’t pay what they owe in taxes :D:D:D:D
they must be trying to cover face over all the drama vimal shah has been stocked in