NSE CEO Geoffrey Odundo
NSE CEO Geoffrey Odundo. The NSE posted its full year results for 2018, recording an 11.8% decline in profit (Photo: cdsckenya.com)

Changes to the senior management team at the Nairobi Securities Exchange (NSE) saw Geoffrey Odundo retained as the chief executive with the members of the executive committee maintaining a two-thirds gender rule.

Odundo will thus go for a second consecutive term as the CEO of the NSE, having first been appointed to the position in 2015 to replace current Managing Director of Old Mutual Group, Peter Mwangi.

“The Board of Directors of the Nairobi Securities Exchange (“NSE” or “Company”) is pleased to notify the public that it has re-appointed Mr. Geoffrey Otieno Odundo as the Chief Executive for a period of four years, with effect from March 1, 2019,” the bourse said in a public notice.

Odundo, will continue to oversee the implementation of the NSE’s strategy as it transitions into a new strategic plan period from 2020, the NSE board said.

At the same time, the NSE board made changes to the senior management team, which it said were in line with the company’s revised structure.

David Wainaina has been promoted to become Chief Operating Officer (COO) having previously been head of trading operations.

The head of entreprise and innovation, David Wagemma, is the new head of Business Development while Loise Wangui will now lead the Regulatory Affairs division.

All changes take effect on March 1.

Other Executive members retained their posts, with Jane Kiarie as Chief Finance Officer (CFO), Terrence Adembesa as Chief Manager, Derivatives Market and Paul Ngaragari as Chief Internal Auditor.

Lucy Kamar, the Head of Human Resources, is also on the NSE Senior Management Team.

With three women and six men comprising the NSE Executive team, it means the bourse has managed to maintain a two-thirds gender rule in its leadership structure.

According to information on the NSE website, those who will not be in the Senior Management Team include Caleb Kivuva, the Operations and Technology Director.

Tom Kimaru and Bahati Morara have also been replaced, having been in charge of Regulatory Affairs and Business Development respectively.

See Also: Why inheritance disputes are on the rise in Kenya

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