Africa’s leading e-commerce company, Jumia, on Tuesday, November 8, 2022, announced a change in the company’s board of executives. This came on the heels of the company’s top executives and co-founders, Jeremy Hodara and Sacha Poignonnec, stepping down from their positions as the company’s co-CEOs.
Having worked with the company since it was founded in 2012, the company under their watch has grown and recorded some notable milestones and achievements in various aspect of its operations in over 11 countries in Africa. Under their watch, Jumia got listed on the New York Stock Exchange (NYSE) in 2019, raising $196 million in net proceeds.
Here is all you need to know about the co-CEOs stepping down and the new man taking over:
SACHA POIGNONNEC
Sacha was the co-CEO and co-founder of Jumia, the e-commerce conglomerate with a presence across 23 African countries. His wealth of experience in the internet industry, entrepreneurship, professional skill in corporate and finance, business development, and marketing strategy helped in building the company from scratch to what it is today.
He was the engagement and associate partner of McKinsey & Company from 2007-2012,and developed deep expertise in the consumer goods and retail sectors as a core member of the European countries in America.
Sacha participated in the creation of “Accuracy” from the outset in 2004 with former professionals from Arthur Anderson.
He holds a master’s degree in finance from EDHEC Business School.
JEREMY HODARA
Jeremy was also a co-CEO and co-founder of Jumia, an e-commerce conglomerate with a presence across 23 African countries.
Like Sacha, Jeremy also worked as a senior engagement manager at McKinsey & Company from 2016-2012. He worked as a marketing intern at L’Oréal from June 2004- December 2004.
He was a project finance intern at Royal Bank of Scotland Group between September 2003 – may 2004
He has a master’s degree in management from HEC, Paris and a higher diploma from Classe Préparatoire Paris where he studied between 1999- 2001.
“We are proud to have built Jumia, pioneering e-commerce on the continent and creating along the way a unique culture and a great platform in which millions of consumers and thousands of sellers find great value. It is time for us to pass the baton to a new team, we are excited for all that is to come for the business and look forward to cheering the Company on from a new vantage point.” The former CEOs Jeremy Hodara and Sacha Poignonnec said.
Francis Dufay Takes Over
The development will see Francis Dufay take over as the acting CEO pending the appointment of a new CEO for the organisation. Until his new appointment by the supervisory board, Dufay had worked in various capacities for the organisation.
Since joining the company in 2014, he has been the CEO of Jumia Ivory Coast as well as the executive vice president of Africa and was responsible for overseeing the company’s Africa e-commerce business.
Dufay, before joining Jumia in 2014, worked for McKinsey & Company in Germany between 2009-2014, where he managed projects in Europe and Sub-Saharan Africa, focusing on e-commerce and retail as well as public sector and economic development.
The advisory board also approved the promotion of Antonie Maillet-Merey as the company’s executive vice president, Finance and Operations. Antonie joined Jumia in 2016, and has worked as the Chief Financial Officer since joining. He started his career with Mazars in 1994-1997 as an auditor and has held positions in several technology companies.
Dufay and Antoni are expected to work hand in hand and ensure a stronger e-commerce business by building the team of experts and available resources toward bringing about good project delivery value to its customers.
The duo is also expecting to reduce operating losses and set the business on a clear path to profitability, through stronger cost discipline, targeted monetization initiatives, and a more simplified and efficient organisation.
“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 organization with stronger fundamentals and a clearer path to profitability,” Chairman of the Supervisory Board, Jonathan Klein, said.
