Nairobi, May 1 -- Bamburi Cement has announced five board changes including the chief executive and chief finance officer (CFO) as its net profit plunged to levels last seen 32 years ago.

The Nairobi Securities Exchange-listed firm has announced that its CFO Vasileios Karalis is going to exit Bamburi at the end of May while Secretary Waeni Ngea will be leaving in June, adding to the exits of the CEO and two non-executive directors.

The five changes marked a major overhaul at the 11-member board, coming on the back of net profit for the financial year ended December 2022 dropping by 86.9 percent to Sh181 million on the back of reduced sales and increased costs.

The Sh181 million profit was a drop from the Sh1.38 billion posted in the pr...