Kenya Pipeline Company (KPC) Joe Sang is set to exit the parastatal in a dramatic twist to the ongoing intrigues that have dogged the firm in recent months.
Board chairman John Ngumi in a statement on Tuesday said Sang has opted not to seek a second term for “personal reasons.”
“The Board acknowledged the various contributions made by Mr. Joe Sang during his tenure and welcomed his assurance of full cooperation during the transition,” he said after a special Board meeting held on Tuesday.
At the same time, Sang said the Board has invited the Directorate of Criminal Investigations (DCI)to carry out investigations at the company while oil marketing companies through their joint company, Supplycor Kenya Limited, will conduct a forensic audit of stock positions which should be completed by 31st December 2018.
“The Board directed Management to accord maximum cooperation to both the DCI and the forensic auditors,” said Ngumi.
KPC and the oil companies have been at loggerheads over the loss of 21 million litres of fuel, valued at Ksh 2 billion, is alleged to have been spilt in the fields or stolen in the last two years.
The 10 major oil companies have been demanding to conduct an independent forensic audit to determine the veracity of KPC’s claims.
However, there have also been allegations of bad blood between Ngumi and Sang and other top managers over his tendency to interfere with day-to-day operations.
Here is the full statement issued by Ngumi: