Central Organisation of Trade Unions (Cotu) secretary-general Francis Atwoli has been axed from National Bank of Kenya (NBK) board.
Atwoli is one of the highest-ranking victims of the takeover of NBK by KCB Group. The vocal trade unionist had served as NBK board member for 16 years.
Speaking after the reshuffle of the board, KCB Group chairman Andrew Wambari Kairu said that the changes are aimed at returning the institution to profitability.
“Corporate governance is of utmost priority for us and the structure of the board and management is important in ensuring that the level of corporate governance you expect is maintained,” he said in a statement as reported by Business Daily.
The other high profile axed is former NBK Board chairman Mohamed Abdirahman Hassan. However, Jones Makau Nzomo and Linnet Mirehane were retained in the new board.
Those brought on board are Stanley Kamau, Julius Karangi and John Nyerere among others.
“We must continue to strengthen and enhance our oversight and risk management practices, which are essential cogs in the banking sector to meet the expectations of our regulators, protect, and serve the interests of our stakeholders," he added.
Atwoli joined NBK in 2003 to occupy one of the two positions allocated to National Social Security Fund (NSSF).