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CMA Board Confirms Wycliffe Shamiah as New CEO

The board of the Capital Markets Authority (CMA) on Thursday announced the confirmation of Wycliffe Shamiah as the regulator’s new Chief Executive Officer ending a 14-months long recruitment process.

CMA Chairman James Ndegwa affirmed the appointment which has since been approved by Treasury Cabinet Secretary Ukur Yatani.

Mr Shamiah who has been holding the Chief Executive Office since January has been playing the role acting capacity, taking over from Paul Muthaura who resigned from the post ahead of the expiry of term in July last year.

CMA initiated the CEO recruitment process in September last year but would later in August 2020 re-advertise the same vacant position with no reasons given for the collapse of the initial hiring process.

“I am sure that with the support of the board, management and staff, Mr Shamiah will succeed in leading the authority in executing its mandate, in implementing the Strategic Plan 2018-2023 and in fulfilling its role in the Capital Markets Master Plan,” James Ndegwa

The slow recruitment process has however been evident at the capital markets regulator with Paul Muthaura having also served first as CEO on a lengthy interim capacity.