Rift Valley Railways picks former GE executive for CEO
Isaiah Otieno Okoth. PHOTO |
What you need to know:
- “As a board we have full confidence in him and believe he has the skills and experience to take RVR to the next level,” Mr Naikuni said.
- The railway Concessionaire who is at the peak of her five year investment and transformation programme has more than doubled its locomotive and wagon carrying capacity, rehabilitated key sections of the rail infrastructure and introduced modern rail management systems..
oRift Valley Railways has appointed a new chief executive officer to drive its rail transport investment plan in East Africa.
The Kenya-Uganda railway concessionaire picked on Ex-General Electric general manager in charge of Health Care for East Africa Isaiah Otieno Okoth to the Group as CEO.
MR Okoth replaces the Brazilian Carlos De Andrade who has been at the helm of RVR for 3 years.
RVR Chairman Titus Naikuni said the former GE boss will add value to the railway transporter due to his background as a management professional and his years of experience in ‘high level’ management.
“His appointment will give the executive management team (EXCO) and the company in general the necessary leadership and focus necessary to succeed.”
Also read: Firm seeks Sh23 billion to fund revival plan
“As a board we have full confidence in him and believe he has the skills and experience to take RVR to the next level,” Mr Naikuni said.
TAKES OVER NEXT MONTH
The new CEO takes over next month for a one month transition period before being fully in charge of the concession firm.
The railway Concessionaire who is at the peak of her five year investment and transformation programme has more than doubled its locomotive and wagon carrying capacity, rehabilitated key sections of the rail infrastructure and introduced modern rail management systems.
The firm now says the new energy is meant to fast track its turn around after a ‘challenging’ half decade in the business.
General electric where the new CEO has been fished is the principal supplier of RVR’s locomotives with the latest consignment of four received in September 2015.
The four shipped in last year had been purchased from General Electric at a cost of Sh2.3 billion ($25 million) with the support of a $20 million asset financing facility from Standard Bank and $5 million from majority shareholder, Qalaa Holdings.
The concession company went through a shareholder restructuring in the third quarter of 2010 and was given the mandate to operate railway services on 2,352 kilometers of track linking the port of Mombasa with the interiors of Kenya and Uganda.
