The Nation Media Group board could soon name a new chief executive to replace Joe Muganda who left last month. The search for the CEO has narrowed down to three candidates, according to sources within the NMG board, and what remains is for the directors to settle on one individual.
The board recently interviewed three shortlisted candidates who include acting CEO Stephen Gatagama, who is also the Group finance director, immediate Nairobi County Deputy Governor Polycarp Igathe and former Vision 2030 director-general Mugo Kibati.
It is understood that the race is tight, with all three candidates impressing during the interviews. Stephen Gatagama, a Nation insider, looks like the under-dog among the trio but who could surprisingly turn the tables. Being picked to act has given him a morale booster and headstart, though when it comes to appointing the CEO many factors come into play including management experience, local and international connections and even political kowtowing.
Also, based on Nation Media history of hiring CEO, the board has always favoured bringing on board outsiders, perhaps as a way of allowing in new ideas and stimulating change in corporate culture. That’s why the other two gentlemen could be the candidates to watch.
Dr Wilfred Kiboro, who served NMG as CEO for 13 years until 2006, was tapped from Xerox Kenya. The board picked his successor, Linus Gitahi, from GlaxoSmithKline Consumer Nigeria, where he was Managing Director.
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Mr Joe Muganda, who took over from Gitahi but resigned before end of his contract, came from East African Breweries Ltd. Will the board break from tradition this time? A look at the ‘outsiders’ can offer a pointer to which direction the board will take.
Mugo Kibati early this month resigned as CEO of Sanlam Kenya, a local insurance company, to pursue “personal and professional interests” and is expected to leave by end of February after three years on the job. Mr Kibati, who has held multiple executive roles in the government and the private sector, is a respected manager.
Kibati made a name during his stint as CEO of East African Cables, a company he turned around, before leaving in 2008 and being tapped by President Mwai Kibaki to head Vision 2030. Kibati is said to be close to President Uhuru Kenyatta, who is scheming to buy Nation Media Group and so the first family’s influence could also determine who becomes the next CEO.
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On the other hand, Igathe, who resigned as Nairobi County Deputy Governor in January is former managing director of Vivo Energy, where he was replaced by former Nation CEO Joe Muganda. Nation Centre sources say he is close to NMG director Dennis Aluanga, who is very much trusted by the Aga Khan.
