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Jumia CEOs resign over poor market

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Jumia Technologies Co-CEOs Jeremy Hodara and Sacha Poignonnec have resigned from the company.

Taking over as the Acting CEO, is Francis Dufay, who has been with the company since 2014 and held multiple senior leadership roles, including CEO of Ivory Coast and recently EVP Africa. Meanhile, Maillet-Mezeray previously Group Chief Financial Officer, has been elevated to Executive Vice President, Finance & Operations.

“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. 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. ‘’ Jonathan Klein, Chairman of Jumia’s Supervisory Board, said.‘’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,” he added.

Jumia says it will also be making select senior management changes with a focus on locating leaders and decision centers closer to consumers and sellers in Africa. In parallel, a search for a permanent CEO is ongoing.

Francis Dufay and Antoine 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.”

The outgoing CEOs said “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 company said it will provide additional information on this announcement and business priorities as part of its Q3 earnings call scheduled for November 17, 2022.

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