After four year-stint at the helm of Capital Markets Authority (CMA), Mrs. Stella Kilonzo has stepped down as the Chief Executive Officer to pursue other interests.
The CMA Board has appointed Mr. Paul Muthaura, the Director Regulatory Policy and Strategy, as the Acting Chief Executive with effect from July 01, 2012.
In a statement issued today, the CMA Board Chairman, Mr. Kung’u Gatabaki, said Muthaura will oversee the Authority in an acting capacity until a substantive Chief Executive is recruited.
He said: “Muthaura will continue to spearhead several ongoing initiatives at the Authority as the Board finalizes the recruitment of the substantive Chief Executive, which is ongoing and is expected to be completed in the shortest time possible.”
According to Mr Gatabaki, the number of people interested in the position of Chief Executive had gone beyond 20 and the Authority was seeking the services of a recruiting consultant to oversee the recruitment process.
“The Authority had received applications from over twenty persons for the position of Chief Executive and had contracted the services of a Recruitment and Selection Consultant to undertake the interviewing and recruitment process.”