Twiga Foods Chief Executive Officer (CEO) Peter Njonjo has taken a 6-month leave one year after the Agri-Tech firm announced mass firing of staff.
In an advert on Thursday, December 14, Twiga Chairman Hein Pretorious said the leave came after the conclusion of a successful capital raise to fund Twiga’s transformation and growth.
“Peter’s contribution to Twiga’s success is immeasurable, leading the transformation of the food and agricultural supply chains in our markets,” said Hein.
Further, the Chairman announced that Twiga’s Chief Operating Officer Laurent Gouault and Chief Financial Officer Zuber Momoniat will be in charge while the CEO proceeds on leave.
Gouault will lead the Operational and Commercial departments while Momoniat will head the Finance and Legal functions of the company during this period.
“Following the successful capital raise, the board supports Peter’s decision to take a sabbatical and has full confidence in the capabilities of Twiga’s recently bolstered senior leadership team,” stated the Chairman.
However, the Company revealed that Njonjo will remain on the board of directors (BoD).
Besides, Hein said the BoD is delighted with Twiga’s strong market position and will work with Peter to further the company’s growth and development.
“On behalf of the BoD, I thank Peter for his demonstrated commitment in ensuring the completion of Twiga’s recent funding round despite the personal sacrifices required,” added Hein.
Also Read: More Woes for Twiga Foods After Mass Sacking of Employees
Peter’s Last Message
In his parting remarks, Peter, who is Co-Founder of Twiga said the company has grown to become the leading integrated distributor of fresh produce and FMCG goods in Kenya.
“I am proud of what we have built at Twiga and the impact that Twiga has had through job creation, the reduction of agricultural waste, and ultimately the reduction of food costs for our people,’ said Peter.
Additionally, Peter recalled that he joined Twiga in 2019 with a dream of increasing food security in Africa starting with Kenya.
Also, he thanked the BoD for their support and expressed confidence in the ability of Gouault, Momoniat and the rest of the team to drive Twiga’s growth in his absence.
“I have decided to take a break after an intense 2023, from my day-to-day role as CEO to focus on personal matters,” he said.
Twiga Foods Mass Firing
Twiga foods, in August 2023 sacked around 267 employees. The firm slashed its workforce in a bid to reduce its wage bill, citing financial difficulties.
Twiga noted that some roles had been declared redundant after a review of its operating model and costs.
“As part of these efficiency interventions, the company has reviewed its operating model and costs to ensure its organization structure is fit for purpose.
“Regrettably, this exercise has seen the company declare some roles redundant across the organization in full compliance with applicable labor laws,” read the notice issued in August.
Also Read: Peter Njonjo: Harvard Educated Co-Founder and CEO of Twiga Foods
This was preceded by mass firings in May where 130 independent sales agents had their contracts terminated.
Furthermore, the company said the affected agents recorded poor performance, clarifying that it was only engaging agents whose sales were showing improvement.
In 2022, Twiga released 211 employees of its more than 1000 staff, representing 21 percent of its workforce.
This was after a restructuring exercise that saw its in-house sales team eliminated.
