Michael Joseph and Dr. Kamau Thugge will next month seek the approval from shareholders of Kenya Airways PLC (KQ) to continue serving as board chairman and Non-Executive Director respectively.
“Mr Joseph, aged over 70 years, retires in accordance with Article 69 of the company’s Articles of Association, and being eligible, offers himself for re-election,” said the airline in the notice.
In a public notice Friday, KQ called upon its shareholders to its 43rd Annual General Meeting on June 10, in which part of the business will include the election of directors and the approval and adoption of its Company’s audited Financial Statements with the Director’s and Auditor’s Reports.
Mr. Jason Kapkirwok retires and will not offer himself for re-election.
Michael Joseph was appointed in October 2016 following the resignation of Ambassador Dennis Awori. He served as Non-Executive Director of the Company between September 29, 2016, and October 5, 2016.
Dr. Kamau Thugge, who is also the Principal Secretary, National Treasury, has served as Non-Executive Director of Kenya Airways Limited since October 1, 2013.
The carrier reported its FY2018 earnings, demonstrating consecutive growth in revenue and narrowed losses even as global report shows African airlines operated at 10% below the estimated average in 2018.
Michael Joseph said this was “…an improved performance, with growth in revenue coupled with better-managed expenditure to deliver an optimistic outlook of our turnaround plan.”
“Kenya Airways will continue to implement the prudent financial management and the turnaround initiatives started in 2018. Continuous improvement of operations, efficient network growth and improvement of service quality and delivery are necessary to enable the airline to hold its own in a highly competitive environment.
In line with global practice, Kenya Airways has embraced the unbundling of products and services and will be introducing several measures to grow its ancillary revenue. Kenya Airways is also focusing on reducing its operating costs while paying close attention to customer delight initiatives.” – Michael Joseph Commentary.