Stanbic Holdings Plc has announced the appointment of Joseph Loyld Omondi Muganda as its new board chair, effective December 31, 2023.
Muganda replaces Kitili Mbathi, who has served as the board chair since May 9, 2019.
Muganda is a seasoned corporate leader who has held senior positions in various blue-chip companies, including Nation Media Group (NMG), Vivo Energy Kenya, Kenya Breweries Limited (KBL), and British American Tobacco (BAT).
He holds an MBA from Leicester University and a Bachelor of Science in Economics, Accounting, and Financial Management from the University of Buckingham (UK).
In a statement, Stanbic Holdings said, “The Board wishes Mr Joseph Muganda all the best in his tenure as chairman.”
The company also thanked Mbathi for his leadership and contribution to the growth and development of the group.
“The Board sincerely appreciates Mr Mbathi for his exceptional service, leadership, commitment, and dedication over the years and wishes him the best in his future endeavours.”
“During his tenure as Director and Chairman of the Board, Mr Mbathi steered the company through the successful implementation of strategic plans, the embedment of sustainability, and risk management, among others,” the notice stated.
Mbathi is a veteran banker with over 35 years of experience in the African region, including collateral management. He worked with Standard Bank Africa from 2007 to 2016 as Regional Chief Executive of East Africa, overseeing subsidiaries in Kenya, Malawi, South Sudan, Tanzania, Uganda, and Zambia. He also served as the Director-General of the Kenya Wildlife Service from 2016 to 2017.
