David Ohana, the CEO of the listed oil firm –Kenol Kobil – has ‘resigned’ from his role even as the takeover process by Rubis Energie goes on. The announcement comes in the midst of insider trading accusations which he is accused of taking part in. In February,
Mr. Ohana took up the job at Kenol Kobil in 2013 when the company was struggling under huge losses due to mismanagement. He successfully steered the company back to profitability. In the latest financial results, the oil distributor made KSh1.6 billion in the 2018 half year net earnings. The CEO leaves his position just a few months to the expiry of his term.