Bidco Africa Group CEO Thiagarajan Ramamurthy has retired from the firm.
In a statement Bidco Africa Chairman Vimal Shah said Ramamurthy, popular known as TRM in the corporate circles, opted to exit the business.
“We announce his retirement from the board… upon attaining the retirement age of 70 years… we also accept his voluntary retirement as the Group CEO of Bidco Africa,” said Shah.
Sources however intimated to Citizen Digital that TRM is poised for an appointment at one of the firms he worked for previously which informs his abrupt exit from the Thika town based company.
TRM have been at the helm of the group for two and a half years. His appointment then was viewed as part of the company’s restructuring from a family owned business.
Ramamurthy built his credentials at the now collapsed Nakumatt Supermarkets where as the Chief Operating officer, led an aggressive expansion taking the brand to the upper echelons of Kenya’s retail sector.
At Bidco he was expected to oversee a five-year strategic plan aimed at catapulting the company to a Ksh.100 billion in turnover.
This involved setting up new factories at Bidco Industrial Park in Ruiru. The park is expected to feature 10 mini factories to roll out food and beverages products as well as personal hygiene products.