Standard Chartered Kenya Limited Board of Directors has appointed Patrick Obath as the new Chairperson to the Board effective immediately.
The changes come two months after Kariuki Ngari replaced Mr. Lamin Manjang as the chief executive officer. Mr. Manjang left to head the bank’s West African region.
Standard Chartered, Kenya’s fifth-biggest lender by asset size reported a 31.1 percent jump in net profit for the year’s first quarter ended in March.
The Nairobi Stock Exchange-listed lender reported an Sh2.4 billion in net earnings up from Sh1.8 billion in a similar period last year making it the biggest growth of all big banks that have so far released their first quarter results.
Obath will be taking over from Anne Mutahi who has held the position since 2012.
Patrick is a Mechanical Engineering graduate from Nottingham University and a Member of the Energy Institute UK. He is knowledgeable in financial management, change management, governance, and business risk.
Eng. Obath has a wealth of experience in leadership roles having served in senior management positions including Managing Director at Shell East Africa. He also served as Chairman at Kenya Private Sector Alliance (KEPSA), African Alliance Kenya Investment Bank, and PZ Cussons EA limited.
Eng. Obath joined the board of Standard Chartered Bank as a non-executive director in January 2012.
While announcing her stepping down, Mutahi thanked Clients, Board of Directors, Management and Staff for their support and dedicated contribution in driving the Bank’s agenda during her tenure.
“I would like to officially announce that I will be stepping down from my position as Chair to the Board. My journey with Standard Chartered Bank started way back in February 2009. I have enjoyed serving this great organization for the last 10 years, six years of those as your Chairperson,” she said.
During the year, the Company also saw changes in the composition of its Board with the appointment of Imtiaz Khan as an Independent Non-Executive Director of the Company following the retirement of Kaushik Shah who had served on the Board since 19 February 2004.
Shah brings over 25 years’ experience in the areas of private equity, financial markets investment, advisory, and audit.