Is there something Standard Group Directors know that the rest of us don’t? AMREF Health Africa CEO Dr Githinji Gitahi has resigned as a director of Standard Group, dealing another blow to the the listed media house, which has lost three directors so far this year. Standard Group Plc announced through its Nairobi Securities Exchange filing that Dr Gitahi – who was an Independent, Non-Executive Director – had quit effective 10th November, 2023.
As a Standard Group board member, Dr Githinji served as the Chairperson of the Finance and Audit Committee and a member of the Editorial, Governance & Nominations Committee. He was also a director of Standard Media Group Foundation.
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The Standard Group is an established multi-media organization in Kenya, with investments in several platforms that include print operations, television, radio, digital and courier services. The exit of three Standard Group directors this year is an indication of trouble in the media business.
On 28th April Mr Robin Sewell resigned as Non-Executive Director and Chairman of the company, just weeks after the group announced a ksh1 billion loss the year 2022. On 18th September 2023, Standard Group saw off Ms Juliana Rotich, who also resigned as an Independent/ Non-Executive Director of the Company.
Dr Githinji Gitahi is a media veteran having worked for Nation Media Group. Before Amref, where he was the Vice President and Regional Director for Africa, Smile Train International. Earlier, he worked as Managing Director of Monitor Publications, the Nation Media Group subsidiary in Uganda, as well as General Manager for Marketing and Circulation in East Africa for NMG.
He also held progressively senior positions at GlaxoSmithKline and worked at the Avenue Group and in the insurance industry. Dr Githinji is also the former International Co-Chair of the UHC2030 Steering Committee, a global World Bank and WHO initiative for Universal Health Coverage UHC.
Granted, Dr Githinji was a key plank in the Standard Group board, combining significant media experience and management expertise to help steer Standard Group in the dynamic media environment. The Standard Group has been struggling to make profit in the media space which has been complicated by a takeover by foreign social companies such as Facebook, Whatsapp and X (formerly Twitter).
Standard, which runs the second biggest newspaper in Kenya The Standard, has been forced to lay off staff through redundancy and early voluntary retirement while cutting costs in other departments to stay afloat.
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“The Board takes this opportunity to thank Dr Githinji for his commitment and invaluable contribution to the Company and wish him the best in all his future endeavours,” Ms Millicent Ngétich, Standard Group Company Secretary, said.
At the same time, the Standard Group has appointed Wesley Kimosop as the Chief Finance Officer effective 1st December 2023. Wesley has more than 17 working experience in the banking sector where he worked in senior positions responsible for designing and implementing strategies to achieve business targets.
He joins the Standard Group management team from Access Bank Kenya where he held the position of senior manager in charge of compliance and operating controls as well as Head of Retail Banking. Before that, Wesley worked with NCBA and Diamond Trust in various positions.
Wesley Holds a Bachelor of Commerce degree from the University of Nairobi, is a certified accountant, a member of ICPAK, and is currently pursuing a Master of Science degree in Finance (Finance and Investment) at Kabarak University.
