Joe Ageyo has been promoted to the position of Group Editorial Director at Nation Media Group (NMG), replacing veteran journalist Mutuma Mathiu who took up the key role in July 2019. Ageyo joined NMG as Editorial Director – Broadcasting, from Royal Media Services (RMS) in March 2022.
Mutuma has been named as NMG’s new Consulting Editor. The shake-up puts Ageyo in control of Nation’s army of journalists and editors developing content for print, digital and electronic platforms.
All NMG staff members at their Nairobi headquarters and in regional offices had been informed to attend a meeting on the morning of Friday, November 4, where several changes were announced and Business Today reliably informed.
Notably, Ageyo will be tasked with leading a major transformation at the NSE-listed media house. CEO Stephen Gitagama announced plans to shift 75% of the company’s content to digital formats. NMG has in recent years been looking to accelerate digital transformation to reduce reliance on print sales and advertising.
The paywall it had put up on its flagship platform was pulled down ahead of the elections, ostensibly to increase reach of its election-related content. Despite NMG stating that the paywall would return after the polls, it is yet to make a comeback two months later.
Gitagama also confirmed that a round of layoffs was coming to the region’s largest media house, stating: “There are layoffs. There are people who will leave the company.”
Monicah Ndung’u, who joined NMG as the Head of Broadcasting in 2020, has been appointed to the role of Chief Operating Officer (COO).
Other key managment changes announced at NMG include the new position of Chief Commercial Officer (CCO), under whom General Manager Commercial in charge of print, Mr James Sogoti, will work. CEO Stephen Gitagama is expected to take up the CCO’s duties while a replacement is sought, while doubling up as CEO.
Richard Tobiko will serve as NMG’s Chief Financial Officer (CFO).
Nation Media Group in August 18 published its financial results for the six months ended June 30, 2022, which saw net profit for the period slide to Ksh247.8 million from Ksh285.2 million last year.
NMG attributed the decline in profitability to factors including a ‘drastic’ rise in the global prices of newsprint paper, stating that the costs were up over 100% compared to the previous year. The company cited the weakening of the Kenyan shilling against the dollar driving up the cost of imported raw materials.
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