Relieved of duties: Mr George Inholo, who has been at the helm of Uganda Clays for six years was relieved of his duties by the UCL board last week. FILE PHOTO Failed turnaround. According to Uganda Clays, Mr Mr George Inholo, who has been at the helm for six years, was sacked for failing to deliver on a turnaround and infights that had been fronted as an excuse for the failing performance.
Uganda Clays Limited (UCL) now has a new boss following the exit of Mr George Inholo, who has been at the helm for six years.
A notice yesterday indicated Ms Jacqueline Kiwanuka, the head of finance would take over the reins in acting capacity as UCL seeks to recruit a substantive boss.
“…there have been changes in top management affecting the managing director, head of production and head of human resources and support services all of whom have left the company by mutual consent,” the notice noted.
Mr Martin Kasekende, the Uganda Clays chairman, yesterday told Daily Monitor, Mr Inholo had been relieved of his duties over failure to deliver and turn around the company, noting “the results were not coming out properly”.
“We have stalled in growth and there is a lot of competition as we speak. We must up our game and get a team that can challenge what is going on and improve on shareholder value,” he said.
Sources close to the matter, who asked for anonymity to speak freely, also told Daily Monitor that there had been fights among top managers, which had been fronted as an excuse for the failing turnaround.
Asked about the internal fights, Mr Kasekende said management for whatever reason was not performing thus the board had thought it was important to replace them.
He also said there was need for a competitive management team that would overcome challenges and maneuver the evolving clay market dynamics to see the company return to sustained profitability.
When contacted yesterday, Mr Inholo said he had already resigned to the new reality, noting that changes happen in all organisations.
“Change is a factor of life. I knew at some point I would definitely leave. I think I have done my part. The company’s gross margins have improved, our image has also improved,” he said, adding that he has strong belief that the company will make a profit for the period ended December 31, 2019.He also noted that whereas internal fights had […]