SGL Replaces Orlando Lyomu With Joe Munene

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Chrispen

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Friday, July 7, 2023 –Standard Group Limited SGL has appointed Joe Munene to replace the sacked Chief Executive Officer Orlando Lyomu who left the company on June 30 following loss making spree in the company.

The struggling media house made this change in today’s notice published in the Standard newspaper issue of Friday July 7.

“The Board has appointed Mr. Joe Munene as the Acting Chief Executive Officer with effect from 6th July 2023. Mr. Munene is currently the Company’s Managing Director – Broadcast Division,” the Company Secretary Millicent Ng’etich announced on Friday, July 7.

Standard Group which has, for many years, been the second largest in the country after Nation Media Group NMG, started showing signs of financial challenges immediately after the death of major shareholder Daniel Toroitich Arap Moi.

As of now, the situation in the media house has not been so good as workers continue going without their monthly salaries and allowances.

A source told Homenes.co.ke that the drastic fall in advertising revenues makes the main reason the media house can nolonger make a strong come back.

Before his elevation to the CEO position, Mr. Munene, an insider, has been serving as the company’s Managing Director- Broadcast Division.

Mr. Munene’s career history shows he has worked in various media houses including, Nation Media Group NMG as the General Manager NTV-Uganda and CNBC Africa.

His coming to the top of SGL management is purely informed by unending losses that have been bedeviling the Mombasa Road-based media house.