Standard Group, on Friday, July 7, announced the appointment of Joe Munene as the Acting Chief Executive Officer to replace Orlando Lyomu, who was kicked out by the board on June 30.
The changes came even as the second-largest media outlet continues to struggle with paying salaries and printing newspapers due to a drop in advertising revenues.
Munene is seen as an insider and has been serving as the company's Managing Director Broadcast Division.
"The Board has appointed Mr. Joe Munene as the Acting Chief Executive Officer with effect from 6th July 2023. Mr. Munene is currently the Company’s Managing Director - Broadcast Division," the Company Secretary Millicent Ng'etich announced on Friday, July 7.
Munene has worked in various media houses, including Nation Media Group (NMG) as the General Manager NTV-Uganda and CNBC Africa.
He is replacing Orlando Lyomu, who was forced out by the board following back-to-back losses posted by Kenya's second-largest news outlet.
The media house owns Standard Newspaper, KTN News, KTN Home, Spice Radio, and Radio Maisha, among other brands.
"The board takes this opportunity to thank Lyomu for his leadership and contribution to the Company and wishes him the best in his future endeavours," read the statement.
Munene has over 20 years of experience in the media, having worked in different positions. He joined Standard Group in 2013.
He holds a Bachelor's degree in Building Economics from the University of Nairobi and an Executive Masters Degree in Business Administration from Jomo Kenyatta University of Agriculture and Technology.
While Lyomu appeared to have resigned after serving the company for 13 years, insiders at the media house told Kenyans.co.ke on Wednesday, June 28, that the former CEO was forced to quit.
He previously served as the Finance Director and Executive Director before rising to become CEO following the exit of Sam Shollei. Lyomu was part of the Group's diversification strategy and transition to a digital and media newsroom.
Several media houses are facing financial constraints, with some unable to pay staff salaries, including the national broadcaster the Kenya Broadcasting Corporation (KBC).
Some Standard journalists and non-editorial staff have gone for months without pay, forcing top talent to leave for other opportunities.
