Musa Ndeto is new KCB Chairman

July 2, 2012
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Muthoka retired at the 41st Annual General Meeting of KCB, held on May 18 after completing his eight-year term as stipulated in the Directors Charter/FILE

, NAIROBI, Kenya, Jul 2 – The Kenya Commercial Bank (KCB) Board of Directors has elected Eng. Musa Ndeto as its new chairman to replace Peter Wanyaga Muthoka who has retired.

Muthoka retired at the 41st Annual General Meeting of KCB, held on May 18 after completing his eight-year term as stipulated in the Directors Charter.

According to a statement from the KCB Board of Directors signed by the group’s Company Secretary, Ndeto was elected by the Board of Directors on Friday June 29.

Prior to his appointment, Ndeto was the chairman of the Audit committee board of Directors as well as the chairman of KCB South Sudan Limited board of Directors.

Ndeto holds a Bachelor of Science degree in Electrical Engineering, Masters in Business Administration (Finance), and Masters in Business Administration (Strategic Management).

“Eng. Ndeto who is currently 59-years-old, has over 36 years experience in the private and public sector in the areas of strategy , governance leadership and entrepreneurship,” a section of the statement said.

The Board also approved four directors to fill the vacant positions as elected by the shareholders during the Bank’s AGM. The four include Adil Khawaja, Charity Muthoni Muya Ngaruiya, Gen (rtd) Joseph Kibwana and Joshua Nyamwea Oigara.

Others in the board include Martin Oduor-Otieno (Chief Executive Officer), Joseph Kinyua (PS Treasury) Joseph Adongo, Peter Kimuyu and Catherine Kola.

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