NMG boss Joe Muganda to leave in January
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NMG boss Joe Muganda to leave in January

Posted BERNARD MWINZI in Nairobi

on  Monday, December 11   2017 at  17:45

Nation Media Group chief executive Joseph Muganda will leave the company at the end of January 2018, the board of directors announced on Monday.

Upon his departure, Mr Muganda will be replaced by the current Group Finance Director, Mr Stephen Gitagama, in an acting capacity as the Board seeks a substantive replacement.

The outgoing CEO joined the company in July 2015 upon the expiry of the term of Mr Linus Gitahi, who was at the helm from November 2006.

NMG’s announcement was immediately followed by a statement from Oil marketer Vivo Energy, which trades in Kenya as Shell, indicating it had appointed Mr Muganda as managing director for its Kenyan operation effective February 1 next year.

Digital disruption

In a short address to staff at Nation Centre in Nairobi on Monday, Mr Muganda said he would be taking up another role after his exit from NMG, and took pride in successfully presiding over a business re-engineering strategy to position the company on a

digital growth path.

His quick wins on the digital front were echoed by NMG Group Chairman Wilfred Kiboro, who said Mr Muganda had “aggressively driven our product portfolio review, presided over a general restructuring and re-oriented the business to seize the opportunities presented by the digital disruption in the media sector”.

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“He will leave a leaner, nimbler organisation whose future commercial success is already evident in the positive trajectory of returns from the investments in digital initiatives,” said Mr Kiboro.

“We wish him well in his future pursuits.”

Mr Kiboro assured all NMG shareholders, stakeholders and the public that corporate leadership changes are normal, and that the transition will be seamless and expeditious.

Regional newspaper

NMG, which is publicly-listed, is the most successful media company in East and Central Africa, and currently boasts the largest digital footprint with visitors reaching more than 30 million monthly.

It publishes the Nation and Taifa Leo newspaper brands in Kenya, The EastAfrican regional newspaper, the Daily Monitor in Uganda, the Mwananchi, The Citizen and Mwanaspoti newspapers in Dar es Salaam and a raft of e-papers and other online content assets.

Also in its stable are NTV in Kenya, and NTV and Spark television stations as well as K-FM and Dembe radios in Uganda. It also owns the Nation FM radio in Kenya.

The company is cross-listed on the Kampala, Dar es Salaam and Kigali securities exchanges.