Michael Joseph was re-elected as the Chairperson of the Board of Kenya Airways for a 3rd term. He was re-elected during the airlines’ 46th Annual General Meeting (AGM).
The Chair indicated that Kenya Airways expects to return to profit in 2024, indicating that its turnaround plans are bearing fruit.
He told shareholders that KQ had committed to the National Treasury that it would be financially sound within the next two years and no longer depend on the government.
“We also recognise that, due to legacy issues, we have been a drain on the exchequer. We expect to move out of that situation and become profitable and self-financed… we believe that we will no longer depend on the Treasury and taxpayers to keep us going,” he said.
Michael was appointed Chairman of Kenya Airways Plc in October 2016. He was re-elected once again in 2019.
He is also a Non-Executive Director on the Boards of Vodacom Group South Africa, MFS Africa, and Safaricom Plc. Michael is also an advisor to the Vodafone Group, mainly related to mobile financial services and Safaricom Plc.
He was, until October 2017, employed by Vodafone Group Services Limited as the Director of Mobile Money and was responsible for leading the strategic growth and development of successful M-Pesa proposition across the Vodafone footprint.
Michael is also the Chairman of Safaricom Plc and is its founding CEO.
During the meeting, the shareholders adopted all the resolutions submitted per provisions of the Company’s Articles of Association, The Companies Act, 2015, and The Capital Markets Act and its Regulations.
Mr John Ngumi, Michael Gichangi, John Wilson, Haron Sirima and Caroline Armstrong were also elected as audit and risk committee members.
