Co-operative Bank of Kenya Photo/The Standard
John Murugu has been appointed Chairman of the Bank’s Board of Director by the Co-operative Bank of Kenya.
Murugu succeeds Stanlry Muchiri who has recently reached the retirement age. Prior to this Murugu served as the director of the back since his appointment in 2015.
The newly appointed Chairman brings 25 years of experience from the financial sector after his stint as Debt Management Director – at the Treasury and Bank Supervision director at the Central Bank of Kenya.
Chief executive officer Gideon Muriuki termed Muchiri’s exit from the bank’s boardroom as the most celebrated exemplary leadership of the Bank during his tenure.
During Muchiri’s term the bank managed to list at the Nairobi Securities Exchange in 2008 and has grown its assets base to the current KES 365B.
He was appointed chairman in 2002 prior to a loss of KES 2.3B the bank posted two years earlier.