Limuru Tea Kenya PLC has announced changes in its leadership following the resignation of two executive directors and the appointment of new ones after the firm recorded a major loss in the first half of the 2025 financial year.
The changes, which took effect on October 15, 2025, were made in accordance with the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023.
Resignations of Limuru Tea Executive Directors
In a public notice from Dorcas Muli, the board chair, the company confirmed the departure of Mr Kenneth Odhiambo Odire and Ms Jackline Kanyua Karimi as Executive Directors.
Their resignations were announced under Regulation 89 and Clause 10.1.2 of the Thirteenth Schedule of the Capital Markets Regulations.
“The Board extends its utmost gratitude to Mr. Odire and Ms. Kanyua and wishes them success in their future endeavors,” noted Dorcas Muli in an official statement.
The two outgoing directors were recognized for their diligent service and contribution to the growth and governance of Limuru Tea during their tenure.
“Mr Odire and Ms Kanyua served the Board diligently and with utmost dedication,” the Limuru Tea notice stated.
New Appointments to the Board
At the same time, Limuru Tea Kenya PLC appointed Mr Rajiv Bandaranayake N.A. and Mr Mohamed Rizmin Razik as Executive Directors, effective the same date.
The appointments were made in accordance with Regulation 26 and Clause 10.1.1 of the Thirteenth Schedule of the same regulations.
Rajiv is the current Chief Executive Officer of Browns East Africa Plantations PLC and Browns Plantations Rwanda Limited, and has 36 years of experience in tea plantations, including training in Rubber and Coconut in Sri Lanka, serving at various levels of management.
He is trained in Strategic Human Resource Management and Corporate Management, and previously served as the Director of Strategic Agribusiness Development in Kelani Valley Plantations PLC.
Also Read: EABL Announces Leadership Changes
Razik is the Executive Director and Chief Financial Officer of Browns East Africa Plantations PLC, Browns Plantations Tanzanian Limited, and Browns Plantations Rwanda Limited.
He has over 25 years of experience in finance and general management across diverse organizations, ranging from large-scale plantations to manufacturing and public sectors.
He holds an FCMA from the Chartered Institute of Management Accountants (UK) and an MBA from PIM (Sri Lanka), Colombo.
Limuru Tea Posts Major Loss for H1 2025
In a report shared on September 1, the company announced a pre-tax loss of KShs 22.207 million for the first half of the 2025 financial year, compared to a loss of KShs 19.604 million in the prior period.
Also Read: Stanbic Bank Announces Leadership Changes
This resulted in a loss per share of KShs (9.25) compared to KShs (2.81) in the previous year.
However, Limuru Tea PLC reported an 8% increase in revenue to KShs 56.837 million for the six months ended 30th June 2025, compared to KShs 52.849 million in the same period of 2024.
Retained earnings decreased to KShs 128.947 million as of 30th June 2025, from KShs 151.153 million at the start of the year, primarily due to the reported loss for the period.
As a result, no interim dividend was proposed.
Follow our WhatsApp Channel and X Account for real-time news updates.
