The Standard Group Board of Directors has announced the appointment of Mr Orlando Lyomu as the Group Chief Executive Office. Mr Lyomu, formerly holding this position in an acting capacity since September 1, 2017, began his duties as the GCEO on May 25, 2018.
Mr Lyomu was also serving as the Group Finance Director and Chief Operating Officer of the Group over the duration he was the acting GCEO.
“The Board is confident that Mr Lyomu will steer the Group to its next stage of growth in a highly competitive and fast-changing business environment,” Millicent Ng’etich, the Standard Group’s company secretary writes in a letter to the Capital Markets Authority.
He replaces Mr Sam Shollei who resigned in September last year after a fallout with some key people in the company’s board
Background
Mr Lyomu has more than 15 years experience in senior level management with skills in financial and risk management, formulation and execution, operations.
In the past, Mr Lyomu worked in the petroleum industry managing operations in Kenya, Tanzania, Uganda, and Rwanda.
Mr Lyomu has a Bachelor of Commerce (Accounting) degree from the University of Nairobi. In addition, he is a CPAK holder and a member of the Institute of Certified Public Accountants of Kenya (ICPAK).
Standard Group posted a Sh282 million loss for the financial year ended 31 December 2017 compared to a profit of Sh262 made in the same period in 2016. The loss was attributed to a decline in print advertising by 17 percent and uncertainty during the election period.
