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Four Executives Shown The Door As KCB Embarks On Restructuring Move

[IMAGE/ COURTESY]

Four executive managers have been shown the door at the Kenya Commercial Bank (KCB), even as the lender embarks on a restructuring move.

Among those who have retired from the lender include director of credit Apollo Ongara, head of corporate and regulatory affairs Judith Sidi Odhiambo, company secretary Joseph Kania and the managing director of KCB Foundation Jane Mwangi.

Ongara’s position has been taken over Benard Okello in an acting capacity while Wanyi Mwaura will be the acting director for marketing, corporate affairs and citizenship.

The role of a company secretary will be under the position of the general counsel, and will be held by Bonnie Okumu. Leonard Mwithiga will be the director for group shared services, a position created in the restructuring move.

Read: KCB To Solidify Footing In Rwanda, Tanzania With Acquisition of Two Local Lenders

The position of the chief operating officer has been changed to chief commercial officer, and will remain under the watch of Samuel Makome.

The changes, according group CEO Joshua Oigara, are meant to consolidate and grow the bank’s business, align brand communication, leverage social impact synergies, enhance credit management, enhance service experience, and subsidiaries to support and strengthen customer value propositions.

This comes six months after KCB announced acquisition of a 62.06 percent stake in Rwandan Bank, Banque Populaire du Rwanda PLC.

In 2011, KCB scrapped 15 executive positions in a restructuring move that cost Kshh1.6 billion.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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