National Oil Corporation of Kenya (NOCK) board has appointed James Nyamongo as CEO in an acting capacity, following the exit of MaryJane Mwangi.
The firm’s board, in a statement on Wednesday evening, said the CEO has opted not to renew her contract.
“During a board meeting held on October 9, 2019, the Chief Executive Officer communicated her decision not to renew her contract. In this regard, the board has accepted her decision,” said the board in a statement.
In the recent past, NOCK has been struggling financially as a result of large sums of money owed by other government institutions, totalling about Sh1.1 billion, which it has exclusive supply arrangements such as the fuelling of state vehicles.
In February, the Directorate of Criminal Investigations (DCI) launched a probe into the alleged theft of KSh100 million worth of products at the corporation, after nearly 900,000 litres of oil were allegedly stolen.
The National Oil Corporation of Kenya (NOCK) is a state corporation of Kenya with a mandate of participating in all aspects of the Kenyan petroleum industry.