Standard Group PLC disclosed changes to its Board of Directors, appointing Ms. Leonie Von Elverfeldt and Mr. Chris Otundo as Independent/Non-Executive Directors, effective March 6, 2024.
This appointment aligns with Paragraph G.05 (1) (b) of the Fifth Schedule of the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002, amended in 2019.
Ms. Leonie Von Elverfeldt brings over 15 years of extensive experience in media and advertising to the Board. As a consultant and coach at Elverfeldt Consulting, she has advised more than 50 media brands globally on audience and revenue growth strategies.
Ms. Elverfeldt specializes in guiding legacy media brands through digitization, newsroom transformation, revenue schemes, and rebranding initiatives.
Notably, she was instrumental in developing and managing the first paywall in Germany for BILD/Axel Springer and founded a media company in East Africa (Pulse/Ringier). She holds an MBA from Technische University in Berlin, Germany.
Mr. Chris Otundo, a seasoned business executive, joins the Board with over 15 years of experience, primarily in talent management. Currently serving as CEO of BrighterMonday Kenya, he has held leadership positions at organizations such as Mastercard Foundation, Safaricom, and General Electric.
Mr. Otundo is recognized for his expertise in strategic talent acquisition across Sub-Saharan Africa and Canada. He holds a Masters Degree in International Management (International Business) from Toulouse School of Management (France) and a BSc. in Business Information Technology from Limkokwing University of Creative Technology (Malaysia). Additionally, he is accredited as an Executive Coach by the Academy of Executive Coaches UK.
Recently, Standard Group PLC has faced challenges including declining revenues and the necessity for organizational restructuring.
These challenges have been exacerbated by shifts in media consumption habits, technological advancements, and broader economic uncertainties. Consequently, the company has undertaken workforce reductions to align with evolving market dynamics and financial constraints.
The new board members are tasked with the responsibility of contributing to the revitalization efforts of the company.
