The Nairobi Securities Exchange (NSE) has announced that Bob Karina, Samuel Kimani, and Hosea Kimutai are set to retire from the company’s board on 3rd June 2021, after nine years of service.
The three directors are some of the longest-serving members on the NSE board and their retirement is in line with the code of corporate governance practices which states, “the tenure of an independent board member shall not exceed a cumulative term of nine years”.
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Bob Karina joined the Nairobi Securities Exchange board in 2012. He currently serves as the vice-chairman of the NSE, the chairman of the Rwanda Stock Exchange and is a board member of the Central Depository and Settlement Corporation (CDSC). In addition, Bob is the Chairman at Faida Investment Bank and Managing Director at Faida Securities Rwanda Ltd.
Samuel Kimani joined the NSE board in March 2012. He served as the chairman of the Nairobi Securities Exchange from June 6, 2016 to July 13, 2020. Samuel is a member of the board of the Central Depository and Settlement Corporation (CDSC) as well as a member of the University of Stellenbosch Executive Education Advisory Board (USB-AB).
Hosea Kimutai joined the board of directors in March 2012. He has been an independent non-executive director on the board ever since. Hosea is a Council member and the current Chairman of the East and Central Africa Social Security Association (ECASSA). He is also the President of Association of Pension Trustees Administrators of Kenya.
In addition to the three directors retiring in June, another director, Nasim Devji is set to step down from the board despite being eligible for re-election. The NSE has not named new directors to replace the four board members exiting in June.