NMG CEO resigns under unclear circumstances

The Nairobi-based Nation Media Group CEO, Joseph Muganda has resigned, its board has announced, saying that the resignation begins effective January 31, 2018.
No reasons were cited by the board for Muganda’s unexpected resignation even as Group Finance Director Stephen Gitagama will act in that capacity until the board finds a substantive replacement.
“Mr Muganda has aggressively driven our product portfolio review, presided over a general restructuring and re-oriented the business to seize the opportunities presented by digital disruption in the media sector,” says Wildfred Kiboro in a letter dated December 11,2017.
Kiboro says Muganda will leave a leaner, nimbler organisation whose commercial success is already evident in a positive trajectory of returns from investment in digital initiatives. He adds: “We wish him well in his future pursuits,” he says.
Kiboro, in a one-page letter, has assured shareholders and stakeholders of the Group that the transition will be seamless and expeditious, stating that resignations were normal in the corporate world. NMG is the parent company of Uganda’s Daily Monitor.