RVR replaces Ondego as chief executive

[John Ashworth]

RVR replaces Ondego as chief executive

By Victor Juma
Business Daily
Posted Wednesday, November 14 2012 at 21:11

IN SUMMARY

- Brazilian Darlan De David is the company’s new chief executive while Mr Ondego takes over as executive vice chairman in a role that will see him focus on managing external relations.
- The development reflects simmering boardroom strife between major shareholders of the company; Egyptian private equity fund Citadel, Transcentury Ltd and Ugandan shareholder Bomi Holdings Ltd.
- The company, which has 25-year concession to operate the Kenya-Uganda railway, says it is about to embark on new capital expenditures to improve the railway transport infrastructure.

Rift Valley Railway’s CEO Brown Ondego has been replaced by his chief operating officer.

Brazilian Darlan De David is the company’s new chief executive while Mr Ondego takes over as executive vice chairman in a role that will see him focus on managing external relations.

“The board of Rift Valley Railways has unanimously voted to appoint Brown Ondego as executive vice-chairman with responsibility for governmental and regulatory relations,” said a statement from RVR.

“Simultaneously, shareholders have appointed former Chief Operating Officer Darlan de David as chief executive officer.”

Mr Ondego joined RVR in 2008 as executive chairman and later took the CEO role, recruiting Mr David from America Latina Logistica, the technical partner selected to support RVR’s turnaround programme.

It is understood that a section of the board has been pressing for Mr Ondego’s ouster from the helmsmanship of the company.

[There's also a version of this story in the print edition of the Daily Nation today]