Kenya Airways chairman Michael Joseph was reappointed last week for another three years, despite continuing to hold a similar role at Safaricom.
During the company’s 46th Annual General Meeting on Friday, shareholders approved his re-election.
The shareholders also approved the appointment of Mr Joseph, John Ngumi, and Angus Clarke as company directors.
Members of the audit and risk committees include Mr Ngumi, Michael Gichangi, John Wilson, Haron Sirima, and Caroline Armstrong.
Joseph took over from Dennis Awori at KQ in 2016 before his contract was extended for another three years in 2019.
During his tenure, Joseph has witnessed Kenya’s national carrier experience losses for five years straight. However, Joseph told shareholders that in 2021, KQ embarked on a path to recovery.
“2021 saw KQ get on a path to recovery as evidenced by the improved financial performance,” Business Daily reported.
The airline reported a net loss of Sh15.8 billion in 2021, a decrease from Sh36.2 billion in 2020, which was exacerbated by the COVID-19 pandemic.
Revenue increased by 32.98 percent to Sh70.22 billion during the review period, boosted in part by alternative sources such as air charter services, which increased by 300 percent.
In comparison to the previous year, the struggling airline reduced total operating expenses by Sh2.89 billion to Sh77.02 billion.
It also reduced aircraft lease rentals by Sh10 billion.
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