Leopards to swap chairmanship for CEO-led limited company, reveals Musonye

AFC Leopards will have a Chief Executive Officer in charge of the team’s operations, presenting a departure from the current setup, which is headed by the chairperson.

According to U45 branch Chairman Olympia Musonye, who is among the frontliners spearheading Ingwe to go corporate and transform them into Leopards Company Limited, the CEO will be elected by five directors from fans’ Sacco and four directors from the investor to oversee the team’s operations.

Leopards will hold their annual general meeting on March 29, and should the Corporate Taskforce Team led by Vincent Shimoli's proposal be endorsed, it will spell a new dawn for the 12-time topflight champions.

“This sacco shall have five directors elected by fans, and then the investor will have four directors. The nine directors will come together to elect a CEO to oversee the Leopards Limited Company.

The investors will have four directors since they will be holding 49 per cent of the ownership, while Fans’ Sacco will have five directors because they will be holding 51 per cent”, said Musonye.

Leopards will have the fans’ sacco as the first tier, company limited as the second tier and finally, the investor as the third tier, with the second tier being the overall under the elected CEO

“Fans will be able to invest in shares as the first tier, while the second tier will be AFC Leopards Company Limited, which will be in charge of overseeing the management of the team.

The Investor/s will be the third tier to help with the financial matters of the team”, Musonye added.

According to Musonye, should the corporate plans go through, then fans will be able to start getting dividends from their annual membership fee or shares.

Instead of fans remitting their monthly contribution for the annual membership fee, they will be investing them as shares, which will turn qualify them to get dividends every year depending on the number of shares one has invested”, concluded Musonye.

Currently, Ingwe are under Chairman Dan Shikanda, Secretary General Gilbert Andugu, and Treasurer Oliver Napali, whose terms are coming to an end on June 29 when the club will hold its election.