NAIROBI, Kenya, Oct 9 – Standard Group has appointed Uchumi Supermarkets Chief Executive Julius Kipng’etich as a Non-Executive Director with effect October 7.
Kipng’etich has previously served as the Chief Operating Officer at Equity Group Holdings and was also a Director and a Chief Executive Officer at Kenya Wildlife Service.
He also serves as a Non-Executive Director at the Kenya Tea Development Agency, Kenya Deposit Insurance Corporation, and Jubilee Insurance Kenya.
The move comes a month after the firm’s CEO Sam Shollei resigned.
Orlando Lyomu was then appointed as the Acting Group CEO pending the appointment of a substantive Chief Executive.
Until this appointment, Lyomu was serving as Group Finance Director and Chief Operating Officer, a position he held since 2012.
The media firm bounced back to profitability in 2016 to make a net profit of Sh198.5 million from a loss of Sh289.6 million in 2015.