Julius Kipngetich appointed Jubilee Holdings CEO

The immediate former CEO of troubled retail chain Uchumi Supermarkets Julius Kipng’etich has been appointed as the regional CEO of Jubilee Holdings effective January 1, 2018.

Kipngetich has been serving as a non-executive director of the insurance giant which has operations in Kenya, Tanzania, Uganda, Burundi and Mauritius.

In a statement, Jubilee Holdings says “Kipngetich brings to the group considerable knowledge and experience in strategy and management.”

Dr Kipng’etich joined Equity in 2004 as board member and served as the Chief Operating Officer of the bank from 2012 until his appointment as Uchumi chief executive on August 26, 2015.

Kipngetich abruptly resigned from Uchumi in early December after just two years on the job. There were speculations in the market that he was headed to media house Standard Group to replace Sam Shollei was fired after a “fallout with some key people in the company’s board.”