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Kenya Airways CEO resigns

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Kenya Airways Chief Executive Officer Sebastian Mikosz has resigned on “personal grounds”, effective December 31.

In an internal memo to staff, Mr Mikosz said he had decided to shorten his contract.

“It is my personal decision and I have obviously discussed it with the board as well as my family,” he said.

He noted that he had informed the Capital Markets Authority and the Nairobi Securities Exchange of his decision, in line with regulations since KQ is a listed company.

Mikosz, who speaks fluent French, English and Russian in addition to his native Polish, was appointed in 2017 and was seen as the fresh hire who would stop the airline’s loss-making.

This was due to his experience turning around LOT Polish Airlines, the flag carrier of Poland.

The CEO noted that he remains “fully determined” to the plans for the national carrier’s turnaround that were rolled out three years ago.

“I believe this is the ideal timing to begin a transition process to find someone who will continue with the turnaround initiatives,” he said.

Mr Mikosz noted that the efforts have seen the company decrease its losses from Sh25 billion in 2014 to Sh7.5 million currently.

READ ALSO:   Why Mikosz could not fly KQ out of turbulence

“I am convinced that KQ is on a good path for a full recovery,” he stated.

The CEO also informed staff that he would be travelling to China to work on the launch of directs flights to Beijing.

He will also attend the International Air Transport Association General Assembly and carry out a business review in Bangkok.

Mr Mikosz has been pushing the Kenyan government to take decisive actions – to either nationalise the airline or change its mandate in a way that would remove the dividend-paying requirement from its shoulders, given its main competitors are State-backed.

“We must be given a different mandate,” he said when he visited Nation Centre this week.

The CEO and group managing director has argued that the ground for Kenya Airways is uneven owing to the shareholding structure of its rivals.

Its main competitors – Ethiopian, RwandAir and the three Gulf carriers – are all 100 per cent State-owned.

This means that to compete with them, Kenya’s national carrier needs the kind of muscle that only the government can offer.

Mr Mikosz’s biggest blow came recently when the government appeared to have had a change of heart on its planned merger with Jomo Kenyatta International Airport (JKIA), which it was hoping to use to turn around its fortunes.

READ ALSO:   Why Mikosz could not fly KQ out of turbulence

Kenya Airports Authority (KAA) did not help as it questioned the financial viability of the deal given KQ was the one in problems.

Unions have never been on its side – they have been demanding the removal of Mr Mikosz as well as the management team.

Instead of focusing on the turnaround strategy, the chief executive has found himself having to explain just how much he and his expats earn.

Mr Mikosz flew in with a team of polish expats, described by insiders as his ‘kitchen cabinet’ that were initially thought to have been needed for just six months.

Their skills have remained wanted at the airline almost two years later, to the chagrin of union officials.

Mr Mikosz defended his strategy, which he maintains is working, but it has not worked at the pace he needs to fly KQ out of the loss-making territory.

His quick wins include finalising the deal that saw banks convert their debt into equity, lifting a repayment burden that was choking its cash flows.

He also counts the direct flights to the US as another feather in his cap.

source:nation.co.ke

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VIDEO: Garden of Joy is officially a GREEN PROJECT

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Garden of Joy by Optiven is fully installed with solar powered street lights.

The initiative is an add on not initially earmarked for the project.

Implementation of water recycling technology, Recycling of biogradable waste and hundreds of trees in place.

We have been undertaking intentional education on green energy as per sustainable development goals no 11 and No 7

The launch of the green initiative was graced by reknown artiste -JUSTINA SYOKAU, of the hit song Twendi twendi.

Joy and dance broke out to celebrate this great step as Optiven ups it’s game in greening projects under it’s portfolio. Watch the video here>>> https://youtu.be/XaNmhif7dAA

The project is ready to build with owners already groundbreaking for their dream homes.

At a price of 1.495M, get a piece of Joy today. We also have installment options as well.

To secure your plot TODAY, call us on 0723400500 or visit www.optiven.co.ke
#GardenofJoyGoesGreen

READ ALSO:   Why Mikosz could not fly KQ out of turbulence
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Restoring The Dignity of Senior Citizens

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In order to succeed, our desire for success should be greater than our fear of failure.

That’s why Optiven Foundation together with Philanthropists and partners continues to Transform the lives of Mama Nduku and her children in Ivovoani.

Partner with us TODAY to enable her succeed in getting a new home. Log on to www optivenfoundation.org
#RestoringTheDignityofSeniorCitizens
#OurPhilanthropyDay
#TransformingLives
#Eyesonthecommunity

READ ALSO:   Why Mikosz could not fly KQ out of turbulence
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VIDEO: Bonus Value Add for Garden of Joy customers

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Finally, it’s all joy for those who bought the Garden of Joy (GOJ). Optiven has pulled a positive surprise by kicking off the installation of hundreds of green solar lights along all the estate roads. The launch happened today when the GOJ was declared a green project.

The engineer installing this green energy friendly street lights lauded Optiven for being an Eco-friendly organization and openly subscribing to suitable development goals no 11 (Sustainable cities and communities) and no 7 ( Affordable and clean energy)

https://www.facebook.com/watch/live/?v=355584738838377&ref=watch_permalink

Among the guests who attended this event was Justina Syokao of the popular 2020 hit song.

The installation was packed with joy as the Garden of Joy joined other Optiven projects that have already gone green.

We urged all our customers to join the green movement by building houses that have natural light, use water recycling technologies such as bio digester, trees planting and managing waste.

This project is now ready for occupation and customers have already started building fast and furious

The plots are on offer at 1.295M up to the 30th October. The offer will be 1.495 from 1st of Nov

Secure your property today with only 200k and enjoy a 12 months installment plan

READ ALSO:   Why Mikosz could not fly KQ out of turbulence

If you want to join this green project, get in touch with us Today:
Phone: 0790 300 300 | 0723 400 500
Visit our Website for more details: www.optiven.co.ke

https://www.facebook.com/georgeoptiven/videos/355584738838377/
We were live at Garden of Joy.

Kindly click the link, share and let’s create engagement as we talk about how we can participate in the Green Agenda. #GardenOfJOYgoesGREEN
#OptivenGoesGreen

 

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