In January 2021, Orlando Lyomu, the Group Chief Executive Officer and Executive Director at The Standard Group PLC opened up on his remarkable journey from earning a Sh5,000 salary in his first job to reaching grand status in the corporate industry.
What the PR article writer didn’t cover is that at the top of Standard Group, Mr Lyomu has mismanaged the outfit which is now struggling with losses despite cost cutting measures.
Standard Group has incurred a loss of Sh434 million before tax for the year ended 2020.
Despite reducing employee salaries by 30%, Orlando continued to earn his full salary and taking bribes that have pushed his asset base up.
With the bribes to lie about issues, Orlando now owns a Sh45 million house in Redhill.
The insensitive CEO, a the height of the COVID-19 pandemic also used Sh300 million to launch new studios when staff are still on 30 per cent salary cuts a year later.
Lawsuits
The bad business management style of Orlando Lyomu where unqualified staff are hired and then left to their own devices has really hurt firm.
His style of working like a blogger has dented the name of the good company. So it was all about profits.
The losses are squarely tied to his bad management style, not covid per see.
