Nation Media CEO Resigns
Nation Media Group CEO Joe Muganda has left the company to take a new role in Vivo Energy after less than three years on the job.
Joe was appointed Vivo Energy CEO following the departure of Nairobi Deputy governor Polycarp Igathe in May.
In an official statement, NMG stated that Mr Muganda will be replaced by the Group Finance Director, Mr Stephen Gitagama as the acting CEO before the board finds a "substantive replacement".
Mr Muganda took over from Linus Gitahi on July 1, 2015, having joined Nation Media Group from Kenya Breweries Ltd, where he was the Managing Director.
[caption caption="NMG CEO Joe Muganda"][/caption]
Muganda’s appointment, which is effective early next year, comes at a time when Vivo announced the acquisition of Engen’s operations in Kenya and other nine African markets.
The deal which was effected will see Vivo Energy acquire over 300 fuel stations in these African markets.
Prior to joining KBL, he had served in several senior positions at British American Tobacco, Unilever, and Barclays Bank.
He holds a Bachelor of Science in economics, accounting and financial management from Buckingham University and an MBA from the University of Leicester.
[caption caption="A copy of the statement by NMG"][/caption]
NMG Chairman Wilfred Kiboro stated that Muganda was good in corporate and regulatory affairs and general management built over a long career at leading multinational corporations across several markets in Africa.
3:43 PM: The story was updated with a statement from Nation Media Group on Mr Muganda's resignation.
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