Tuesday, 23 February 2016

Tuesday, February 23, 2016 Drama as Tuskys CEO is ejected from office

Tuskys Chief Executive Officer Dan Githua was on Tuesday forcibly removed from office in a dramatic scene that saw siblings of the directors storm the office to escort him out.
A video captured at the scene shows people entering Mr Githua's office and asking him to leave. He listens to their tirades in silence, though anger is evident on his face, before he later walks out followed by several people, some of whom are heard still shouting at him.
The group's move followed his reluctance to adhere to a letter terminating his employment on January 23 due to alleged conflict of interest, lack of respect, arrogance and poor performance of the company.
“We the directors of Tusker Mattresses Ltd have terminated your services as the CEO of our company with immediate effect due to reasons cited,” said the letter seen by Daily Nation and signed by the four directors of the company.
Mr Githua was the first non-family CEO appointed by the firm in 25 years. He succeeded George Kamau, moving from his job as the CEO of Speed Capital.
His appointment was seen as a remedy that could quell the drama that had in the recent past stalked the family-owned business. An estimated Sh1.64 billion is alleged to have been siphoned from Tuskys' accounts four years ago.
At the time of Mr Githua's appointment, Mr Yusuf Mugweru Kamau, the fourth-born in the Kamau family, opposed the decision, saying the shareholders had not met to discuss the hiring.
Tuskys is run by seven siblings: Mr Stephen Mukuha, Mr Mugweru, Mr John Kago, Mr George Gashwe (former managing director), Mr Sam Gatei, Ms Mary Njoki and Mr Kenneth Mwangi Njeri.
One year into Mr Githua’s tenure as CEO, the directors noticed a drop in the company’s performance compared with previous years.
“You are an 80 per cent owner of Artemis Africa Ltd and Martin Mureithi owns the remaining 20 per cent. Artemis Africa happens to be Tusker Mattresses Ltd’s employee outsourcing company,” said the letter of termination issued to Mr Githua.
The directors also claimed that Mr Githua disrespected them and showed similar contempt for employees and suppliers of the company.

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