Standard Group has appointed Mr. Joe Munene as the Group Chief Executive Officer and Executive Director, following the resignation of Mr. Orlando Lyomu.
“Mr. Joe Munene has over 20 years of experience in television broadcast management and joined the company in 2013.” Read the Standard Group statement.
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He has previously worked as the General manager at Nation Media Group Uganda and CNBC Africa. Munene is also a graduate of the IESE Business School Advanced Management Program in Media and Entertainment.
His predecessor, Mr. Orlando Lyomu, joined Standard Group in 2012 as the Group Finance Director. In 2016, he was appointed as the Group Operating Officer until 2018, when he was appointed as the Group Chief Executive Officer and Executive Director.
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John Munene faces a tough task in improving the company’s performance after it recorded a loss of Kshs 865.2 million in the year ended 2022, up from a loss of Kshs 73.2 million recorded in 2021.
Standard Group’s revenue has been on a downward trajectory since 2018, recording a total revenue of Kshs 2.7 billion in 2022 from Kshs 4.8 billion in 2018, owing to the declining sales of its Broadcasting and Printing segments.
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