Standard Group confirms Orlando as CEO
The Standard Group Plc board has confirmed Orlando Lyomu as the Chief Executive Officer after serving in acting capacity since September 1, 2017.
Making the announcement during the group’s 100th Annual General Meeting (AGM) at the Standard Group Centre on Mombasa Road, Chairman Robin Sewell said the board is confident that Mr Lyomu will steer the company to greater heights.
“Since last year when Mr Lyomu was appointed as the acting CEO of the group, the board has decided to confirm him as CEO for the group. Congratulations to Mr Lyomu,” said Mr Sewell.
Lyomu replaced former CEO Sam Shollei who resigned last year to pursue other interests.
The chairman added that the group has embarked on a five-year strategic plan whose main focus includes among other things growing the broadcast and digital segments, introducing new products and diversifying customer offerings.
Addressing the shareholders, Lyomu said the new strategy will ensure sustainable growth by delivering value in an environment of changing consumer needs.
“We want to ensure that when we look at our business in the next two or three years, the discussion will not be about how much revenue we have lost but about how much new revenue we have generated so that we consistently remain in profit,” said Lyomu.
He told shareholders that the group wants to invest at least Sh300 million in the broadcast business in 2018 but assured them that this will not require them to raise additional money.
The company is keen on launching two new television stations as well as two radio stations which Lyomu said will require more equipment, new frequencies and additional talent in a bid to secure the future of overall business.
Lyomu explained that the management has resolved to up the speed of strategy execution. The CEO said the group is now focusing on new products that will mature within two to three years and deliver value to shareholders.
“We are also aggressively investing in digital platforms. Our audiences’ needs are changing and we are redirecting resources to building platforms for such future consumers,” said the CEO.
During the AGM, the CEO told investors that the company was still pursuing government to recover pending payments. Government has been slow in paying debts to suppliers, forcing companies to make provisions for bad debts.
Friday’s AGM was marked with cake cutting and toasting champagne to mark 100 years of incorporation of Standard Group, which is the home of The Standard newspaper, The Nairobian, KTN Home, KTN News, Radio Maisha, Standard Digital and Standard Outdoor.
Veteran figures such as Catherine Kasavuli made a nostalgic comeback to the media house that has been trailblazing the industry since 1902.
On Wednesday, the Standard Group Plc shone at this year’s 2018 KUZA awards as it scooped awards across various platforms. Radio Maisha was voted the country’s most popular radio station in the second annual event hosted by the Communications Authority of Kenya.
“In total, we walked away with 14 awards. That is no mean achievement considering how many TV and radio stations we have in the country,” said Lyomu.