KCB Group Plc has appointed a new board for National Bank of Kenya (NBK), the Kenyan bank it recently acquired.
The new Board will be expected to provide leadership and guidance to steer NBK through the transition and eventual integration within the KCB Group.
“Corporate governance is of utmost priority for us and the structure of the Board and Management is important in ensuring that the level of corporate governance you expect is maintained. We must continue to strengthen and enhance our oversight and risk management practices, which are essential cogs in the banking sector to meet the expectations of our regulators, protect, and serve the interests of our stakeholders,” KCB Group PLC Chairman Andrew Wambari Kairu.
The Board will be chaired by John Nyerere, a member of the KCB Group Plc Board. The other board members are Eng. Stanley Kamau (Director), Gen (Rtd) Dr. Julius Karangi (Director), Jones M. Nzomo (Director), Ms. Linnet Mirehane (Director), Joshua Oigara (KCB Group CEO and MD) and Paul Russo (NBK Managing Director).
The inauguration of the new board completes the governance changes which started with the appointment of Paul Russo as the bank’s Managing Director to lead the transition. KCB Group also recently listed an additional 142,979,717 shares at the Nairobi Securities Exchange (NSE) after its successful acquisition of the National Bank of Kenya (NBK). This means that NBK shareholders who swapped their shares for those of KCB will now be able to trade the new stocks at NSE.