This archive report was first published on 18 October 2019.
Kenya Commercial Bank Group (KCB) has made significant changes to the National Bank of Kenya (NBK) board, barely weeks after acquiring the lender.
Among those affected is Cotu secretary-general Francis Atwoli, who had been a member of the board for 16 years, representing workers' interests in the bank.
Atwoli, who joined the board in April 2003, was appointed to occupy one of the National Social Security Fund (NSSF's) two positions on the board.
Joshua Oigara, KCB chief executive, NBK's managing director Paul Russo, ex-KDF boss Julius Karangi, and Treasury's acting director general in charge of public investments and portfolio management directorate Stanley Kamau have joined the board of directors.
John Nyerere, a member of the KCB Group board, has replaced former NBK Board chairman Mohamed Abdirahman Hassan.
The reshuffle is aimed at regaining the trust of troubled NBK shareholders and revamping the bank's business following successive losses.
“Corporate governance is of utmost priority for us, and the structure of the board and management is important in ensuring that the level of corporate governance you expect is maintained,” KCB Group chairman Andrew Wambari Kairu said in a statement.
