Capital Markets Authority re-advertises CEO position 8 months after Muthaura’s exit


Capital Markets Authority re-advertises CEO position 8 months after Muthaura's exit
File | Capital Markets Authority (CMA) Chairman James Ndegwa

In Summary

  • Slow recruitment processes at the regulator are routine with Paul Muthaura having first served as an acting CEO for over three years before confirmation.

The Capital Markets Authority (CMA) has re-advertised the vacancy for Chief Executive Officer eight months after the departure of Paul Muthaura.

The regulator has re-engaged consultancy firm Deloitte to fill the contractual post which runs over a four year stretch, renewable for an additional single term.

The recruitment process is expected to close on September 7.

Though no reasons were given for the re-advertisement, sources insinuated that there may have been pressure from various quarters.

Slow recruitment processes at the regulator are however routine with Muthaura having first served as an acting CEO for over three years before confirmation.

Muthaura expressed his intent to end his stay at CMA in July 2019 and later joined ICEA Lion as the Chief Operating Officer for general insurance business.

Wycliffe Shamiah currently leads CMA in acting capacity since his appointment on January 1.

CMA first advertised the vacant post on September 3 in a process which run to September 27.

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Story By Kepha Muiruri
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