Equity Group Founder and Chairman Peter Munga retires


Peter Munga
Retired Equity Group Founder and Chairman Dr. Peter Kahara Munga.

In Summary

  • In a statement to newsrooms, Equity Group says Dr. Munga expressed desire to retire as he celebrates his 75th birthday.
  • Dr. Munga will now be replaced by Kenyan-American Vice Chairman David Ansell and the two will work collaboratively to ensure a smooth transition is completed by the time of the next AGM in 2019.
  • David Ansell, who has been named the Chairman Designate has been serving as the Non-Executive Vice-Chairman.

Equity Group Founder and Chairman Dr. Peter Kahara Munga has officially retired after 35 years at the helm of the board.

In a statement to newsrooms, Equity Group says Dr. Munga expressed desire to retire as he celebrates his 75th birthday.

Dr. Munga will now be replaced by Kenyan-American Vice Chairman David Ansell and the two will work collaboratively to ensure a smooth transition is completed by the time of the next AGM in 2019.

“The Board appreciated his leadership and wisdom which led the bank from a small village building society to become the largest financial services provider in the region,” reads the statement.

“In their tribute, the Board appreciated his long service, wisdom and leadership style which allowed them to discuss matters openly and candidly in an environment of trust. They further added that he had created an environment and strong governance structure with the ability to attract talent both at the Board level and at the executive level.”

David Ansell, who has been named the Chairman Designate has been serving as the Non-Executive Vice-Chairman.

He holds a Bachelor’s degree in Mathematics from the University of North Carolina at Wilmington, a second Bachelor’s degree in Finance from the Thunderbird Graduate School of International Management and an Advanced Management Degree (AMP) from the Wharton Business School.

David Ansell

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