The role of a Board Chair is paramount. Beyond presiding over meetings, the Chairman of a national carrier like Kenya Airways (KQ) is entrusted with providing robust leadership, setting strategic direction, overseeing complex operations, and diligently ensuring the highest standards of corporate governance. This demanding position requires a unique blend of vision, resilience, and an unwavering commitment to the company's financial health and customer satisfaction, working in close collaboration with the CEO and the entire board. It is this critical mandate that Michael Joseph, a towering figure in Kenya's corporate landscape, has just concluded, officially retiring as Chairman of Kenya Airways after a remarkable nine-year stint.
The national carrier formally announced Joseph's departure in a notice issued on Saturday, June 14, in accordance with the Capital Markets (Securities) Public Offers, Listing and Disclosures) Regulations 2023. The statement from the Board of Directors of Kenya Airways PLC confirmed his retirement as both a director and chairman, effective Friday, June 13, 2025. His tenure, which began with his appointment to the board in 2016, has been widely recognized for its diligent service and profound impact on the airline's trajectory.
Kenya Airways, in its official announcement, lauded Michael Joseph's service with the "utmost honour, diligence, and dedication." This commendation is well-earned, given the extraordinary challenges that defined his tenure. Joseph assumed the chairmanship during a period of significant financial distress for the airline, a situation further exacerbated by unprecedented global crises.
Perhaps his most significant accomplishment, and one that will undoubtedly define his legacy at KQ, is his successful navigation of the airline through a series of "various reorganisations, the tumultuous COVID-19 period, and its turnaround strategy." The global pandemic delivered a near-fatal blow to the aviation industry worldwide, grounding fleets and decimating revenues. For an airline like KQ, already grappling with deep-seated financial woes, the crisis was existential. Joseph's leadership during this period was crucial in implementing survival strategies, securing vital government support, and ensuring the airline's continuity amidst unprecedented uncertainty.
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The culmination of these persistent efforts was realized in 2024, when KQ achieved a historic net profit record. This remarkable turnaround, following years of sustained losses, was accompanied by strong growth in both passenger and freight volumes. It served as a powerful reaffirmation to both stakeholders and shareholders of the business's operational viability and its potential for a sustainable future. This pivotal shift from chronic losses to profitability underscores the effectiveness of the strategic direction and tough decisions made under Joseph's chairmanship.
Another notable milestone under his supervision was the reopening of trading for KQ shares at the Nairobi Securities Exchange (NSE) on January 6, 2025, a significant step that also saw its shares resume trading on corresponding securities exchanges in Uganda and Tanzania. This move symbolized renewed investor confidence and a return to normal market operations for the national carrier.
Reflecting on his time at the helm, Michael Joseph articulated his initial objectives with clarity: "When I took over the chairmanship, the key focus was to restore the airline's fortunes and help develop a sustainable strategy for the future." He acknowledged the demanding journey, characterized by "many milestones... both good and bad." Yet, he concluded with a sense of pride and accomplishment, stating, "It is therefore with great gratitude that I can proudly say the fruits of the efforts we have been putting in have begun to show."
KQ's 2024 annual report shed light on Joseph's compensation during his final full financial year, revealing he was paid KSh 18,225,000, which translates to an average of approximately KSh 1.52 million per month. This figure represents a slight increase from the KSh 18 million (KSh 1.5 million monthly) he took home in the 2023 financial year. As is customary for non-executive directors, their compensation includes fees and sitting allowances for board and committee meetings, with the fees themselves approved by shareholders at Annual General Meetings (AGMs) and disbursed monthly.
Joseph's retirement from Kenya Airways follows his earlier departure from telecommunications giant Safaricom on August 1, 2023. His foundational role at Safaricom, where he served as the founding CEO from 2000 to 2010, and later as acting CEO (2019-2020) and Board Chairman (from 2020), marked a period of unprecedented digital transformation in Kenya and globally, particularly with the revolutionary M-Pesa mobile money service. His two decades-plus tenure at the telco cemented his status as an industry visionary.
