The Board of the Capital Markets Authority (CMA) has announced the start of a process to identify a suitable candidate to succeed the current Chief Executive Mr. Paul Muthaura, to ensure a smooth transition.
The process began on Tuesday through publication of a job advertisement, which will remain open until 27 September 2019. The position will fall vacant in January 2020 and follows Mr. Muthaura’s recent notice of intention not to renew his contract when it expires on 31 December 2019.
The Cabinet Secretary National Treasury and Planning will appoint a new Chief Executive on recommendation of the Board of the Capital Markets Authority for a four-year renewable contract.
CMA Board Chairman Mr. James Ndegwa observed that the Chief Executive’s role would provide vision and leadership in the regulation and development of Kenya’s capital markets. ‘The future Chief Executive will also be responsible for developing and implementing strategies to effectively address emerging issues, risks and opportunities in the markets to safeguard investor confidence and market integrity’, he added.