The board of Kenya Pipeline Company (KPC) has appointed Joe Sang as the acting managing director of the state corporation, returning him to the position after he was cleared of alleged corruption charges last month.
The appointment takes effect immediately, and he replaces Dr Macharia Irungu, whose contract was not renewed by the board last week, ending his three-year tenure at the state corporation.
“Mr Joe Sang has taken over at Kenya Pipeline Company as the managing director. The board is ready to accord him the necessary support to push the KPC back to the good golden days when the company’s financial performance was at its highest peak ever, with staff morale at its best.”—quoted Business Daily.
Joe Sang was appointed as KPC’s managing director for the first time at the end of April 2016.
However, his tenure was cut short when he was forced to resign in December 2018 due to what Joe Sang describes as immense pressure from the then-board of directors, led by Mr Ngumi.
KPC reported a net profit of KES 1.6 billion in the fiscal year that ended June 2021, down from KES 3.9 billion the previous year.
The company earned KES 2 billion in net income for the fiscal year that ended in June 2019, a significant decrease from KES 8.5 billion the previous year.
Dr Irungu took over at KPC in January 2020, succeeding Mr Hudson Andambi, who had been acting MD since December 2018 following Mr Sang’s arrest.
Joe Sang has an MBA from the University of Nairobi and a CPA (K) with extensive international experience in governance and leadership in the energy sector, among other things.
He has previously worked for National Oil, Unga Group, East African Breweries Plc (EABL), and KPC.
Read Also: KPC Announces Plans to Build New Pipeline Between Nairobi & Mombasa
