Bidco CEO Ramamurthy retires

Bidco Africa CEO Thiagarajan Ramamurthy popularly known as TRM has retired, just two years after he the Thika-based company.

In a statement, Bidco’s Executive Chairman Vimal Shah said in a statement that TRM had voluntary retired as the group CEO and from the board upon attaining the retirement age of 70.

“On behalf of the Bidco family and the board, I would like to thank Thiagarajan Ramamurthy (TRM) for his valued leadership and significant contributions in the last two years as we announce his retirement from the Board of Directors of Bidco upon attaining the retirement age of 70 and we also accept his voluntary retirement as the Group CEO of Bidco Africa Ltd,” said Vimal in the statement.

He added that Bidco was currently restructuring but did not say who was taking over as acting CEO, saying it will communicate in due course.

“Going forward, we will continue with the process of reforming our organisation designs and structures to be world-class in line with our strategy to transform Bidco Africa into a dynamic and responsive organisation made of fully empowered teams,” he said.

Before joining Bidco, TRM was the public face of Nakumatt, representing the company in multiple media and conference appearances.

He was also an evangelist for the new face of Kenya’s burgeoning retail space at a time Nakumatt was on a rapid debt-fueled expansion.

He left in April 2017 ahead of a management shake-up that was meant to enhance performance of the retailer.

At Bidco he was expected to oversee a five-year strategic plan aimed at catapulting the company to a Sh.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.