Kenya: KCB CEO says executives replaced in new structure

Nairobi. KCB has confirmed three new senior appointments in a reorganisation of its executive team meant to cut reporting layers and increase efficiency in the business.

Peter Munyiri, who was the group’s deputy chief executive in charge of group businesses, is the new Chief Business Officer, for Kenya while James Agin, who has been serving as the bank’s regional director will oversee the bank’s international operations as the new Chief Business Officer, International.

Mr Paul Tikani, who was director of operations, has been appointed the Chief Operating Officer. The position of Chief Financial Officer was left vacant until an external recruitment is done. The role was previously held by Stanley Towett as the director (Finance).

The four positions have combined duties that were previously handled by 21 directors, some of whom chief executive Martin Oduor-Otieno confirmed had left the company.

Those who have left under a voluntary retirement scheme are Sam Kimani who served as the deputy CEO (group controls), Catherine Njoroge (special projects) and Kefa Bosire (corporate communications).

The directors who are leaving will get a send off of one and a half month’s salary for every year worked. KCB, however, said Mary Ann Kirubi (marketing director), Tony Githuku (IT director), Caroline Kariuki (mortgages) and Tim Kabiru (retail banking) were still employees of the bank, contrary to reports that they had resigned. (Business Daily)