ICYMI: Jumia appoints new management as co-founders step down

ICYMI: Jumia appoints new management as co-founders step down

Jumia, a pan-African e-commerce platform, has appointed a new management board and acting chief executive officer.

The development follows the resignation of Jeremy Hodara and Sacha Poignonnec, co-founders of Jumia, due to increased loss.

According to a statement by the company’s supervisory board, Francis Dufay will serve as the acting CEO, while Antoine Maillet-Mezeray is the executive vice president, finance and operations.

The company said the duo as well as the new leadership are expected to “work together closely to drive the company’s strategic priorities and operations with a clear focus on building even stronger fundamentals for our e-commerce businesses by refocusing teams and resources on activities and projects delivering the best-added value to consumers, sellers and the broader Jumia ecosystem.

“Also, reducing operating losses and setting the business on a clear path to profitability, through stronger cost discipline, targeted monetisation initiatives and a more simplified and efficient organisation.”

Speaking on developments, Jonathan Klein, chairman of the supervisory board, said the company’s focus would be to expand operations and reduce losses.

“We thank Jeremy and Sacha for their leadership over the last decade to envision and build a company that became the leading pan-African e-commerce player,” Klein said in the statement.

“As we look ahead to the next chapter of Jumia’s journey, we want to bring more focus to the core e-commerce business as part of a more simplified and efficient organisation with stronger fundamentals and a clearer path to profitability. 

“We look forward to working closely with Francis, Antoine and the leadership team to execute on these objectives and continue on our mission of offering a compelling e-commerce platform to consumers, sellers and the broader Jumia ecosystem in Africa.”

Klein, however, said that the company would be making select senior management changes with a focus on locating leaders and decision centres closer to consumers and sellers in Africa. 

He also said a search for a permanent CEO is ongoing.

On their part, Dufay and Maillet-Mezeray said, “We have an outstanding platform, a strong brand and a talented team. We believe in Jumia’s relevance to African consumers and are confident in the company’s ability to deliver strong results.

“We are working on a comprehensive plan to bring more focus to the business and drive sharper execution to scale the business towards profitability.”

Prior to his appointment, Dufay has been with the company since 2014 and has held multiple senior leadership roles, including CEO of Ivory Coast and recently EVP Africa with responsibility for the group’s e-commerce business across Africa. 

Also, Maillet-Mezeray, previously group chief financial officer, has been with Jumia for over six years and has played an instrumental role in driving the finance function and further developing it in a public market context.