Standard Group Limited (SGL) Board of Directors has appointed Joe Munene as acting Group Chief Executive Officer (CEO) after the resignation of embattled Orlando Lyomu last week.

The appointment of Munene, who is the current Managing Director – Broadcast Division, takes effect on July 6, 2023 as the company tries to find its way out of financial doldrums.

Munene boasts of more than 20 years of experience in management in the television broadcast division after joining the Mombasa Road-based media company in 2013.

“Previously, he worked with the Nation Media Group (NMG) as General Manager NTV-Uganda and CNBC Africa,” said Company Secretary Millicent Ng’etich in a statement.

Munene is a graduate of the IESE Business School’s Advanced Management Programme in Media and Entertainment.

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He also holds an Executive MBA from the Jomo Kenyatta University and a Bachelor’s Degree in Building Economics from the University of Nairobi.

The board thanked Lyomu for his contribution after joining the firm as Finance Director and Executive Director in 2012 before being appointed the Group CEO in May 2018.

“He has been instrumental in driving the company’s diversification strategy and guided efforts to build a modern newsroom and a digital-first media house,” stated the board.

This comes amid reports that the company’s biggest shareholders, Gideon Moi and Joshua Kulei, are planning to pump more money into the embattled company in efforts to revive it.

The new appointment comes a day after the board appointed veteran journalist Chaacha Mwita as the company's Non-Executive Director with effect from July 4, 2023.

Mwita is a leadership, media and communication management and policy engagement consultant with more than 15 years of integrated international experience in Executive Managemenatrd relations, as well as research translation and advocacy.

In 2014, Mwita, who was then the Group Editorial Director, successfully sued Standard Group for wrongful termination and sought Sh67 million as compensation for the four years he should have worked for the company.