NMG’s chief financial officer, Richard Tobiko, will become the interim CEO until a substantive replacement is found for Gitagama.
The Nation Media Group (NMG) is set for a significant leadership shakeup after Stephen Gitagama, the Chief Executive Officer (CEO) of East Africa’s largest media house, is set to leave the helm at the end of July 2024.
As first reported by TechCabal, NMG’s chief financial officer, Richard Tobiko, will become the interim CEO until a substantive replacement is found for Gitagama.
The unexpected announcement also comes with revelations, as learnt by Viral Tea, that 80 percent of the board is also set to leave.
In a message to employees, Gitagama, who served as CEO for seven years, revealed on Friday, July 19 that “My tenure as CEO at NMG will come to an end by August 1. I’m leaving behind a very strong team, and with the dedication you have, I believe you will go far.”
Outgoing Nation Media Group CEO, Stephen Gitagama. /FILE
NMG board chair Wilfred Kiboro revealed at the same meeting that the 80 percent are also set to leave at the end of 2024.
Thiss leaves questions regarding the future directions of the company, which has been embarking on a restructuring between May and June, including a layoff process that affected more than 16 employees, the fifth time this has happened following Gitagama’s assumption of the role from CEO Joe Muganda.
More to follow…