Stephen Gitagama, CEO of Nation Media Group, has retired.

Nation Media Group CEO Stephen Gitagama has announced his retirement, effective August 1, 2024, as per a notice from NMG Board Chairman Wilfred Kiboro.

“The Board hereby announces the retirement of Mr. Stephen Gitagama as the Group Chief Executive Officer and Executive Director of the Company with effect from 1 August 2024,” the notice stated.

Simultaneously, the board announced the appointment of Richard Tobiko as the interim CEO, starting August 1, 2024.

Gitagama began his journey with NMG in September 2007 as Group Finance Director and was promoted to Group Chief Executive Officer in June 2018. Since March 2008, he has also been an Executive Member of the Board of Directors. Additionally, he served as a Director of the Group’s Subsidiary Companies and was a member of the company’s Strategy and Investments Committee and the Nominations and Governance Committee.

During his tenure, Gitagama spearheaded NMG’s digital transformation strategy, aiming for digital revenues of USD 55 million by 2027 through the Group’s Digital North Star. His leadership also fostered NMG’s Thought Leadership across Africa, highlighted by events like the Kusi Ideas Festival and The Nation Leadership Forum.

“On behalf of the Board, we extend our deepest appreciation and gratitude to Gitagama for his dedication and contribution to NMG over the years and wish him the very best in his future endeavours,” the NMG statement read.

Richard Tobiko, currently the Chief Financial Officer at NMG, will step in as the Interim Group CEO. Tobiko rejoined NMG in October 2018 as Group Finance Director. His previous experience includes roles with the African Development Bank (AfDB) as a Financial Management Consultant, General Electric (GE) as Centre Leader for Sub Sahara Africa Shared Services Hub, Al Jazeera Media Network as Director of Finance and Administration, and KETRACO as General Manager, Finance and Strategy.

Tobiko holds an MBA from Warwick Business School, University of Warwick (UK), and a Bachelor of Commerce (Accounting Option) degree from the University of Nairobi. He is also a Certified Public Accountant (CPA – K) and a member of the Institute of Certified Public Accountants of Kenya (ICPAK).

The Board wished him success in his new role as Interim Group CEO.