Kenya Airways chief executive Mbuvi Ngunze has announced that he will step down from the helm of the national carrier early next year.

Mr Ngunze has headed the troubled airline, commonly referred to as KQ, for the past two years as CEO and group managing director.

“While I regret this decision, I respect his position. Mbuvi will stay on until a successor is found which is expected to take some months,” said KQ chairman Michael Joseph in a statement sent to newsrooms Thursday.

His resignation comes nearly a month after former board chair Dennis Awori bowed out of the airline.

READ: Ex-Safaricom CEO replaces Awori as Kenya Airways chairman

The process of selecting a suitable replacement for Mr Mbuvi, led by Mr Joseph along with the board and the firm's nominations committee, is already underway and is expected to take three months to complete.

“As we look to the future, the operational turnaround must stay in focus, but so too the financial stability of the business. The key outcomes desired during this phase of the turnaround are an improvement in liquidity and the reduction of the overall debt,” said Mr Joseph.

Mr Ngunze had worked at the carrier for five years in different capacities including Chief Operating Officer before his promotion to CEO two years ago.

Turnaround plan

While taking office, Mr Joseph had indicated that Mr Ngunze would not be exiting as he was a part of the turnaround strategy.

It however seems that the chief executive has bowed to pressure from the pilots' lobby to step down.

The Kenya Airline Pilot Association (Kalpa) had been calling for the resignation of top seat holders at the airline including former chairman Ambassador Dennis Awori and outgoing CEO Mr Ngunze.

READ: Pilots call off planned strike after KQ makes board change

Kalpa has accused the leadership of mismanagement that has resulted in the airline posting record billion shilling losses over the past few years.

Mr Ngunze was in the process of restructuring the airline in an undertaking that included the sale of assets, employee rationalisation as well as renegotiation of long-term loans.

-Business Daily