NSE board changes: Kittony re-appointed chairman, Safaricom’s Chege to represent listed firms

The board of the Nairobi Securities Exchange (NSE) has reappointed Mr Kiprono Kittony as its chairman.

Mr Kittony will be deputised by Mr Paul Mwai, who is the CEO of AIB Capital and the chairman of the Kenya Association of Stock Brokers and Investment Banks.

Mr Kittony was first appointed chairman of the NSE board on July 13, last year, and together with his vice chairman they have been board directors of the NSE since May 30, 2018.

At a special meeting of the Board of Directors of NSE, Mr Donald Wangunyu and Mr Stephen Chege were appointed as the new directors, who will steer the bourse going forward.

Read also: Why Safaricom share price rally is now pulse of the NSE

Mr Wangunyu, joins the team as a non-executive director representing trading participants while Mr Chege shall be representing the interests of listed companies.

At the moment, Mr Chege is the Chief Corporate Affairs Officer at telecommunications giant Safaricom, where his role entails shaping the policy, legal and regulatory environment and overseeing the growth of Safaricom’s sustainability initiatives.

Mr Wangunyu, who currently sits on the boards of Standard Investment Bank, the Kenya Association of Stockbrokers and Investment Banks and the East Africa Forum for Alternative Investments, is the founder and chief executive of the Robo-Advisor, FourFront Management.

Further, in accordance with the provisions of the Capital Markets Act, four directors of the NSE retired during the 67th Annual General Meeting held virtually on June 3.

Those who retired include former board chairman and an independent non-executive, Mr Samuel Kimani.

Board vice chairman Bob Karina, Mr Hosea Kili who served as independent non-executive director as well as Mrs Nasim Devji, a non-executive director representing listed firms, also retired from the bourse apex management organ.

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