Kenya’s Capital Market Authority (CMA) has appointed an acting chief executive officer as it looks to fill the post in the next two months, the agency’s board chairman said on Wednesday.
Paul Muthaura, the head of regulatory and strategy at the CMA has been picked as acting CEO to fill the vacancy left with the exit of the current CEO Stella Kilonzo.
Ms Kilonzo opted not to have her contract renewed, ending her four year rein in office.
Kung’u Gatabaki the CMA board chairman announced Mr Muthaura’s appointment on the sidelines of the launch of a market surveillance system by the regulator to step up its oversight role.
This will ensure real time surveillance and help detect irregularities in trading at the Nairobi Securities Exchange (NSE).“For the position of CEO, we have received applications from within and outside the authority.
Hopefully we look to have filled the vacancy in the next two months. We have narrowed down the applicants and we should have at least the three top candidates soon,” he said.
The changes at the helm of the CMA come at a time when two other listed companies are gearing up for a change of guard from July 1. NSE listed Mumias Sugar and regional Beer maker East African Breweries Limited (EABL) are to have new CEO’s starting next week. Peter Kebati, Mumias chief financial officer, ascends to the CEO position. Devlin Hainsworth, the current Guinness Nigeria MD, swaps places with EABL’s Seni Adetu.