This archive report was first published on 18 October 2019.
On October 18, 2019, KCB Group announced a major overhaul of the National Bank of Kenya (NBK) board, sending home nearly the entire former board in a reshuffle, weeks after formally acquiring the troubled lender.
The country's largest bank tapped NSSF board of trustees chairman Julius Karangi and Treasury's acting director general Stanley Kamau to its board of directors, along with KCB Group chief executive Joshua Oigara and NBK managing director Paul Russo.
The board shakeup means Central Organisation of Trade Unions (Cotu) secretary-general Francis Atwoli becomes the latest highest-ranking victim of the takeover after serving on the NBK board for 16 years.
Atwoli joined the bank's board in April 2003, representing workers' interests in the bank, having been appointed to occupy one of the National Social Security Fund (NSSF's) two positions on the board.
KCB had said it was using a two-year transition period to 'streamline human resources, systems, processes and procedures' to realise efficiency and productivity synergies.
Former NBK Board chairman Mohamed Abdirahman Hassan has also been axed and replaced by John Nyerere, a member of the KCB Group board.
Those retained at the new board include Linnet Mirehane and Jones Makau Nzomo.
KCB Group chairman Andrew Wambari Kairu said the changes are aimed at building 'a bigger and stronger institution, focusing on people, systems, processes and institutional governance.'
