Nation Media Group on Monday announced that its chief executive Joseph Muganda will be leaving the company at the end of January 2018 after two and a half years at the helm of the group.
Stephen Gitagama, the Group Finance Director, will replace Mr Muganda in an acting capacity as the board looks for a substantive replacement.
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.
Mr Muganda joined NMG in July 2015, replacing Mr Linus Gitahi, who left after leading the company for 10 years.
In a short address to staff at Nation Centre in Nairobi, Mr Muganda said he took pride in successfully repositioning the company on a digital growth path.
NMG chairman Wilfred Kiboro 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”.
“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 termed the corporate leadership changes as ‘normal’, adding that the transition will be seamless and expeditious.
NMG, which is publicly-listed, is the largest media company in East and Central Africa, boasting the widest 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 on-line content assets.
Also in its stable are NTV 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.
Head of Vivo’s regional operations David Mureithi said in the statement Mr Muganda’s “vast experience will bring great added value to Vivo Energy Kenya, allowing the company to build on its previous success, as he steers the company to meet its ambitious goals.”