Nairobi Securities Exchange-listed Limuru Tea Plc named Gerridina Johanna Maria Ten Den as its new chief executive in 2019, replacing Nicholaos Yiannakis who resigned after 19 months in the role. The appointment follows sustained financial challenges in the tea sector, including a 2017 after-tax loss of Sh22.13 million and a 23% revenue drop to Sh80 million compared to 2016.
Yiannakis, who joined from Unilever Tea Tanzania in June 2017, left as the company faced declining profitability amid reduced sales volumes and labor conflicts. Limuru Tea company secretary Alison Kariuki confirmed Ten Den's appointment, citing the need for leadership during ongoing industry turbulence.
A three-week strike in November 2018 cost tea firms nearly 1 billion shillings in losses, exacerbating financial pressures. Limuru Tea's 2017 losses followed a 2016 deficit of Sh19.07 million, while peers like Williamson Tea Kenya posted an Sh85 million net loss in the first half of 2018. Kapchorua Tea's after-tax loss also expanded to Sh76.5 million from Sh14.5 million during the same period.
