Capital Markets Authority chief executive officer, Stella Kilonzo. She is expected to step down in June 2012. Photo/FILE
The Capital Markets Authority (CMA) has announced that Chief Executive, Mrs Stella Kilonzo, will not seek re-appointment for a second term after the end of her four-year term on June 30, 2012 to pursue other interests.
In a statement to newsrooms on Tuesday, the Authority said it will facilitate a smooth transition.
"The Authority is appreciative of the leadership of Mrs Kilonzo and the major milestones achieved during the last four years, which has enhanced the profile of the Kenyan capital markets in the region and internationally...this is key to attracting additional fund flows into the country and mobilizing funds to support the Vision 2030 flagship projects..." read the statement in part.
"I am grateful to the Board as well as to my parent Ministry of Finance and above all His Excellency the President, for the opportunities and experiences bestowed upon me and particularly the support and strategic guidance I have received during my tenure as Chief Executive," Mrs Kilonzo is quoted in the statement.
"The market has grown much stronger and sophisticated, numerous products are now either in the market or in the course of being developed and introduced for the market," she said.
She said the Authority Board’s approval and the Government’s approval, through the Ministry of Finance, of the key reforms including the approval of additional resources to enable my team implement the reforms, resulted in the Authority being more effective and transformed the capital markets industry in Kenya and East Africa.
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