African e-commerce giant Jumia has made a change in management as co-founders Jeremy Hodara and Sacha Poignonnec step down effective today as co-CEOs. The two founders, who until today shared the chief executive role, have been at the helm of Africa’s only publicly traded company on the NYSE for over a decade, overseeing Jumia’s pan-African expansion across 11 countries as well as its product journey that now includes a marketplace, JumiaPay, its payment arm, and a logistics platform.
Francis Dufay, who previously held the CEO role at one of Jumia’s fledging markets, Ivory Coast, will now replace both co-founders as acting CEO, the company’s Supervisory Board said in the statement. Dufay has been with Jumia since 2014, holding multiple senior leadership roles, more recently, executive VP of Africa, responsible for the group’s e-commerce business across the continent. According to the Supervisory Board, Dufay and Antoine Maillet-Mezeray, previously Jumia’s Group chief financial officer, have been appointed members of the company’s Management Board.