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CMC Picks Bill Lay as new CEO
Burning Spear
#11 Posted : Tuesday, May 10, 2011 12:57:39 PM
Rank: Veteran

Joined: 7/22/2008
Posts: 1,139
bwenyenye wrote:
I have dealt with CMC a couple of times. Man those fellows wako down tu sana. They will hardly respond to querries and the staff are rude. Very rude. ( with the exception of a few) Woe unto you if you are inquiring on a Land Rover part, you would think those salemen own them! Only to see the fellows taking mats home. Sasa madharau ndogo ndogo ni za nini na wewe huna? That palce needs a total overhaul. Those guys just wait for government to buy... I had to day this. They remind me of Telkom Guys... you reposrt to work to do nothing!!



Thats why Foster was shown the door coz of inefficiecy.

I hope Bill will be able to bring efficiency and modernize the operations of this sleeping giant since now they have secured the govt as a top liquid customer through the VW passat.
The brand they sell are well received by East africans and they only need an agressive MD to counter the overpriced (cheap) japanese vehicles.
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
mukiha
#12 Posted : Tuesday, May 10, 2011 3:33:51 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
The common denominator of opinion regarding Forster seems to be INEFFICIENT. But he maintained over 10% ROCE for a very long time... except the last two years when it fell to 9% and then 7% in 2010.

And that achieved while maintaining a stead growth in assets from Sh3.951b in 2006 to Sh5.879b in 2010 - 8% annually [compounded]
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
VituVingiSana
#13 Posted : Tuesday, May 10, 2011 7:13:45 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
Not sure why Forster was kicked out but he did very, very well for many years!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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