Patrick Quarcoo exits Radio Africa Group after 24 years
Business
By
Denis Omondi
| Jun 26, 2024
Radio Africa Group founder and CEO, Patrick Quarcoo, has proceeded into retirement after twenty-four years of steering the media conglomerate.
According to a statement from the company, the decision to step down was made by Quarcoo himself in line with his wishes to pursue personal interests. However, he will stay on as a substantial shareholder.
"We are grateful for Quarcoo's dedication and leadership over the years. His contributions have laid a strong foundation for our future," said Kiprono Kittony, the chairman of Radio Africa Group.
Patrick Quarcoo is leaving behind an impressive investments portfolio consisting of six radio stations in Kenya and another in Nigeria, a national daily newspaper, digital brands and an events brand.
The company has credited its outgoing CEO's "innovative vision and leadership" for its growth since its launch in 2000, to own household product lines such as Classic 105, Kiss, and Jambo radio stations.
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"We thank Quarcoo for his years of service and wish him all the best in his retirement" Kittony added.
The board of the company has appointed Chief Operating Officer, Martin Khafafa, as the new CEO in an acting capacity.
Khafafa, who holds an MBA certification from the United States International University (USIU), will be charged with delivering on the company's digital innovation plan amid media industry's dwindling revenues occasioned by the digital disruption.