KAMPALA – Uganda Clays Limited (UCL) has sacked its Managing Director Mr. George Inholo after failing to get the company back on track.
Mr. Inholo was fired alongside the Head of Production, Head of Human Resources and Support Services, effective March 6th, 2020 according to the Company’s Board Chairman, Eng. Martin Kasekende who put out a mild statement in the papers.
Mr. Kasekende said the trio and the company had parted ways “by mutual consent.”
But CEO Magazine quoting sources familiar with board proceedings reported that: “The trio were sacked over big-time performance issues
Wait until you see the numbers- it is embarrassing. They failed to do anything to turn around the company; they were just bickering. There were big fights amongst the team.”
While the Kajjansi-based company searches for new leaders to fill the positions, Ms. Jacqueline Kiwanuka, the Head of Finance will step up as a new Managing Director in the interim.
The embattled Inholo replaced Charles Rubaijaniza, the Company Secretary turned Managing Director, who served from November 2010 to April 2013 when he was apparently made to resign as pressure for better numbers mounted.
At the meeting that announced Inholo’s appointment in 2014, it was reported that the roofing tile maker had made a half-year loss of UGX2.4 billion. It went on to announce a record loss of UGX5.2 billion for 2014 and his task was clear: restructure the company and return it to profitability.
Under his leadership, UCL has downsized staff, paid off or converted expensive loans and retrofitted its controversial second plant in Budaka to use cheaper fuel oil. Revenues have risen and operating expenses have fallen but a loan from its largest shareholder, the National Social Security Fund, is still to be cleared and – with its 15% interest – remains a drag on profitability.
In 2015, Inholo’s first full year in charge, UCL registered a 76.7% reduction in a net loss to UGX1.2 billion from UGX5.2 billion in 2014.
Inholo was the country manager at Unilever Uganda, Rwanda and Burundi for 15 years before his current joining UCL. He has a BA in Social Work and Social Administration from Makerere University.