Vivo Energy MD Joe Muganda resigns after 2 years at the helm

VIVO Energy chief executive Joe Muganda has resigned from his post barely two years after leaving a similar position with Nation Media Group (NMG).

Peter Murungi is expected to take over effective December 1 2019.

Murungi has worked for Vivo Energy over the last 12 years in various capacities, most recently leading the Group’s implementation is a new Entreprise Resource Planning System.

“I would like to thank Joe for the contribution he has made as MD of Vivo Kenya, and wish him well for the future. I am certain that Peter will build on his success to steer the organisation to even greater achievements,” said Hans Paulsen, Vivo Energy EVP East and Southern Africa.

Vivo Energy, owned by Helios Investment Partners, has a 12.5 per cent market share in Kenya’s petroleum retail market. The firm runs Shell-branded outlets in the country.

Muganda left NMG in 2017 to take a new role at Vivo Energy after less than three years on the media job.

Joe was appointed Vivo Energy CEO following the departure of Polycarp Igathe in May. Igathe resigned to take up a new role as the running mate of Nairobi county Governor Mike Mbuvi ‘Sonko’. Sonko went ahead to win the seat.

Mr Muganda took over from Linus Gitahi on July 1, 2015 having joined Nation Media Group from Kenya Breweries Ltd, where he was the managing director.

Muganda’s appointment came at a time when Vivo had announced the acquisition of Engen’s operations in Kenya & other nine african markets. The deal will see Vivo acquire over 300 fuel stations in these african markets.

He holds an MBA from Leicester University and a Bachelor of Science (Economics, Accounting and Financial Management) from the University of Buckingham (UK). He has previously worked as the Managing Director of Kenya Breweries Limited and has held senior positions at British America Tobacco, Unilever and Barclays Bank.