Plascon replaces long-serving chief executive

Kampala. Plascon, a leading paint manufacturer, has said it will see out its long serving chief executive officer Chris Nugen, replacing him with Mr Santosh Gumte, who has been with the company for the last 17 years.

Mr Nugent now takes on a new role as a senior corporate advisor after serving the company for 30 years.
Mr Gumte will be seeking to drive the company into a new direction with a target to control 60 per cent of the market share.
This will be done, the company said in a statement at the weekend, through emphasis on new innovations at a time when the industry is facing a lot of competition.

Mr Nugent, led Plason in a stiffened transition after buying into Sadolin, a deal which was later severed.
In December 2018, Kansai Plascon sold 2.9 million litres of paint, which surpassed the company’s previous sales of 2.75 million litres in 2017.
The performance was achieved amid uncertainties as the paint maker struggled to shake off a controversial Sadolin takeover.
The paint industry has in the past three years experienced a lot of competition, forcing through a number of innovations such as production of mosquito and water repellent paints.

Takeover
Plascon entered Uganda on August 4, 2017. However, the takeover was marred with a lot of controversy after Plascon disagreed with Sadolin. Sadolin has since re-launched.

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