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Naikuni's KQ exit brought one month forward [Business Daily (Kenya)](Business Daily (Kenya) Via Acquire Media NewsEdge) Kenya Airways (KQ) chief executive Titus Naikuni is set to leave office on October 31, a month earlier than previously announced. He was to retire at the end of November but this has been fast-tracked by a month for undisclosed reasons. KQ's former chief operating officer Jeremy Ngunze will replace Mr Naikuni, who leaves after 11 years at the helm. "The board accepted the resignation of Mr Naikuni as a director and the group managing director of Kenya Airways with effect from October 31, 2014," KQ's chairman Evanson Mwaniki said in a statement. READ: Kenya Airways' executive pay rises 33pc in year of Sh3b loss "In view thereof, Mr Mbuvi Ngunze will replace Mr Naikuni … with effect from November 1 as opposed to December 1." The statement said Mr Naikuni resigned at a board meeting held last Friday. The departure coincides with his new appointment as chairman of Rift Valley Railways (RVR), which takes effect from November. RVR appointed Mr Naikuni as part of its boardroom reorganisation. At RVR, he will replace Ngugi Kiuna who represented the interests of investment company TransCentury, which earlier this year divested from the railway firm. TransCentury sold its 34 per cent stake to Cairo-based Citadel Capital (now rebranded Qalaa Holdings) for Sh3.8 billion in March, in a move that effectively ended Mr Kiuna's tenure as RVR's chairman. RVR is betting on Mr Naikuni's experience in the transport sector to help turn around the loss-making railway firm. (c) 2014 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |