African eCommerce giant Jumia has appointed a new management board following the departure of co-founders Jeremy Hodara and Sacha Poignonnec as co-CEOs.
Francis Dufay has been given the position of acting CEO by the supervisory board as the search for a new CEO continues.
The e-Commerce company also appointed Antoine Maillet-Mezeray who worked as the former CFO as the executive vice-president of finance and operations.
“We want to bring more focus to the core e-commerce business as part of a more simplified and efficient organization. This will lead to a stronger fundamental and a clearer path to profitability,” Jonathan Klein, Chairman of the Supervisory Board.
About Jumia Acting CEO
Dufay has been with Jumia since 2014 and has held multiple leadership roles including CEO of Jumia Ivory Coast. He was recently executive vice president of Africa overseeing the group’s e-commerce business across Africa.
Before Dufay joined Jumia in 2014, he worked at the global consulting firm McKinsey, just like Hodara and Poignonnec.
The Executives’ Tasks
In the statement revealed, Mailet-Mezeray and Dufay are tasked with reducing operating losses and setting the business on a clear path to profitability. This will be done through stronger cost discipline, targeted monetization initiatives, and a more simplified and efficient organization.
These two changes are the only first out of many other senior management changes that the company will make over the next few months.
Other information on this announcement and business priorities on its third-quarter earnings call scheduled for November 17, 2022.
It was recorded that Jumia has been making losses since its emergence. It reported $57.2 million in its 2022 second-quarter report.
The company has also shared its ambition to become more profitable. It is however not clear how soon that will be even as the company reduces its losses.
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