The Standard Group has announced the departure of Michael Lusiola from its board, where he served as an Independent Non-Executive Director.
According to a notice dated August 21, Standard Group stated that Lusiola’s exit took effect on August 18, 2026.
“The Board of Directors wishes to announce the resignation of Dr. Michael Lusiola as an Independent Non-Executive Director of The Standard Group Pic with effect from 18th August 2026,” read part of the notice.
Lusiola joined The Standard Group board on September 2, 2024, serving for nearly two years before leaving the position.
During his tenure, Lusiola contributed his experience in global business and leadership, with the company highlighting his role in process improvement, corporate strategy, team management, board matters, and stakeholder engagement.
The Standard Group thanked him for his contribution and commitment to the Group and wished him success in his future endeavours.
Career Background of Michael Lusiola
Michael Lusiola is currently a Director at the Regionalized Vaccine Manufacturing Collaborative, a position he has held since January 2025.
Before that, he served as the Managing Director and Chief Executive Officer of the Kenya BioVax Institute from June 2022 to January 2025.
Lusiola previously spent more than 16 years at AstraZeneca, where he served as Senior Director of Global Research and Development in Immuno-oncology from April 2006 to May 2022.
Earlier in his career, he worked at the Royal Liverpool and Broadgreen University Hospital NHS Trust as Head of the Medicines Information and Clinical Trials Unit from April 1999 to March 2006.
Educational Background
Lusiola undertook a programme in Public Health Systems, Global Health Safety, Quality and Access at Harvard T.H. Chan School of Public Health between January and December 2019.
He also studied Business Administration and Management at the University of Reading from January 2015 to December 2016 and completed a Project Management programme at the International Institute of Learning in 2013.
Between 2003 and 2005, Lusiola pursued a master’s degree in Evidence-Based Medicine (Pharmacotherapy) at Aston University. He also studied at Queen’s University Belfast in 2002.
Lusiola attended the University of Nairobi between 1990 and 1996 before completing his secondary education at Alliance High School, where he studied from 1986 to 1989.
Standard Group Losses
The Standard Group PLC recorded a net loss of KSh133 million for the half-year in 2025, an improvement from the KSh200 million loss reported during the same period in 2024.
The improvement came despite a significant revenue decline, which fell 25 percent from KSh1.05 billion to KSh789 million. The decline was attributed to weaker advertising sales and reduced government contracts.
The company also reduced its operating costs by 26 percent to KSh879 million, while net finance costs fell by 17 percent to KSh52 million.
The company generated KSh189 million from operations, up from KSh141 million in the previous comparative period, while closing cash and cash equivalents stood at KSh128 million compared with a deficit of KSh28 million at the end of December 2024.
However, the company’s financial position remained under pressure, with total liabilities standing at KSh6.25 billion against assets of KSh3.89 billion. Shareholders’ equity remained negative at KSh2.36 billion.
To strengthen its financial position, the Group said that it is pursuing a KSh1.5 billion rights issue approved by the Capital Markets Authority. The funds are expected to support debt restructuring, digital expansion and working capital.
The company is also implementing a 2025 to 2027 turnaround strategy focused on cost reduction, debt collection and growth across its broadcast, print and digital businesses.
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