Jumia Technologies Co-CEOs Jeremy Hodara, Sacha Poignonnec step down

Jumia Technologies announced the appointment of a new Management Board and Acting CEO, while Jeremy Hodara and Sacha Poignonnec, Co-CEOs, will be stepping down effective today. The Supervisory Board has appointed Francis Dufay and Antoine Maillet-Mezeray as members of the Company’s Management Board. Dufay is appointed Acting CEO. He 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. Antoine Maillet-Mezeray previously Group CFO, has been elevated to Executive Vice President, Finance & Operations. Antoine 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. Francis, Antoine and the broader leadership team will 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. Reducing operating losses and setting the business on a clear path to profitability, through stronger cost discipline, targeted monetization initiatives and a more simplified and efficient organization. The Company will 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.