Limuru Tea announces leadership changes following H1 2025 losses
Limuru Tea Kenya PLC reshuffles its executive leadership after reporting a first-half loss amid revenue growth and declining retained earnings.
KENYA – Limuru Tea Kenya PLC has announced major leadership changes following the resignation of two executive directors and the appointment of new ones after the company reported a significant pre-tax loss in the first half of the 2025 financial year.
In a statement signed by Board Chair Dorcas Muli, the company confirmed the resignation of Mr. Kenneth Odhiambo Odire and Ms. Jackline Kanyua Karimi as Executive Directors.
Their departures were made in accordance with 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,” stated Muli.
She further acknowledged their commitment, noting that both executives served diligently and contributed significantly to the company’s growth and governance during their tenure.
Simultaneously, the company announced the appointment of Mr. Rajiv Bandaranayake N.A. and Mr. Mohamed Rizmin Razik as Executive Directors, effective October 15, 2025.
The appointments were made under Regulation 26 and Clause 10.1.1 of the Thirteenth Schedule of the same regulations.
Mr. Bandaranayake currently serves as the Chief Executive Officer of Browns East Africa Plantations PLC and Browns Plantations Rwanda Limited.
With over 36 years of experience in tea plantations, he has held several managerial roles and received training in rubber and coconut production in Sri Lanka.
He also brings expertise in Strategic Human Resource Management and Corporate Management, having served previously as Director of Strategic Agribusiness Development at Kelani Valley Plantations PLC.
Mr. Razik, on the other hand, is the Executive Director and Chief Financial Officer of Browns East Africa Plantations PLC, Browns Plantations Tanzania Limited, and Browns Plantations Rwanda Limited.
He possesses over 25 years of experience in finance and general management across multiple industries, including large-scale plantations, manufacturing, and public sector organizations.
The leadership changes come as Limuru Tea reported a pre-tax loss of Kes 22.207 million (US$171.88K) for the six months ended June 30, 2025, compared to a loss of Kes 19.604 million (US$151.7K) in the same period of 2024.
Despite the loss, revenue rose 8% to Kes 56.837 million (US$439.9K), up from Kes 52.849 million (US$409.0K) a year earlier. However, retained earnings fell to Kes 128.947 million from Kes 151.153 million (US$1.17M) at the beginning of the year, largely due to the recorded loss.
Consequently, the company did not declare an interim dividend for the period.
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