Kenya Airways Chief Executive Mbuvi Ngunze will quit in the first quarter of 2017, the airline has said.
GROUP MD AND CEO TO STEP DOWN FIRST QUARTER 2017 pic.twitter.com/5WV1lMsaiG— Kenya Airways (@KenyaAirways) November 24, 2016
“Today, Mbuvi is announcing that he will be leaving KQ effective first quarter 2017,” new board chairman, Michael Joseph said in a statement on Thursday.
The airline has promised to find a suitable replacement within three months.
“I hope to complete this process within the next three months. I have already started the process to search for and identify the right candidate with the relevant airline experience,” Joseph said and further revealed the outgoing CEO will work with the rest of the airlines senior leadership team to ensure continuity during the transition.
Ngunze, who took the helm in December 2014, has had a tumultuous reign as the airline recorded four consecutive years of losses as a result of a poorly timed expansion strategy.
In February, Kenya Airways turned to global consulting firm McKinsey & Company to draw up a restructuring plan which includes laying off 600 employees, about 15 percent of its workforce.
The turnaround strategy has seen the airline shrink its fleet by almost a third and also led to it selling its valuable take-off and landing slot at London’s Heathrow airport.