Some AccessKenya shareholders have reportedly questioned the move to have former Deloitte Managing Partner, Daniel Ndonye chair the publicly listed firm. According to reports appearing on Business Daily, AccessKenya shareholders said that having Mr Ndonye chair the company is “a breach of corporate governance rules guiding the selection of heads of boards for listed companies.”
The shareholders said that Mr Ndonye’s appointment as chairman failed the five-year rule, which states that board chairmen should be independent directors who have not consulted for a company for a period of five years prior to taking the leadership.
Mr Ndonye retired from Deloitte in May 2010 as the managing partner of the financial services firm that has been AccessKenya’s auditor for more than five years
