Titus Naikuni to chair RVR board after shakeup

Rift Valley Railways has appointed Mr Titus Naikuni to serve as its chairman from November as the firm’s new owners reshuffle the boardroom following share restructuring early in the year.

The retiring Kenya Airways chief executive officer is expected to bring vast experience to an entity that has struggled to live up to the terms of its contract with the government.

(READ: Kenya Airways opts for continuity as it names new managing director)

“To have such a seasoned and transformational business leader chair the RVR board is a big win for the company,” Mr Ahmed Heikal, chairman of Qalaa Holdings, formerly Citadel Capital, said in a statement on Monday.

EXTENSIVE BUSINESS LEADERSHIP

Mr Naikuni brings extensive business leadership and policy formulation experience to the railway operator that has been consolidating volume and efficiency gains following substantial capital investments.

Qalaa Holdings became the majority shareholder in RVR after buying a 34 per cent stake from TransCentury in April, raising its stake to 85 per cent. The remaining 15 per cent is owned by Uganda’s Bomi Holdings.

“I am excited about this opportunity to work with the board and staff to build a robust and efficient rail transport solution, which is the backbone of a thriving economy,” said Mr Naikuni, on his appointment.

RVR, which has a 25-year concession to run the Kenya-Uganda railway line, has come under criticism from the government over failure to meet terms of the pact, including performance and fees payments.

RAPID EXPANSION

Mr Naikuni joined Kenya Airways as group CEO in 2003 and spearheaded the most rapid expansion of the airline, growing revenues threefold and doubling fleet and passenger numbers.

He is currently a board member in MEARSK Kenya Limited, CFC Stanbic Bank, and AccessKenya Group and a deputy chairman at Magadi Soda Limited — where he once served as managing director.