Kenya Re Statement on Suspension of Hillary Wachinga as MD and Appointment of Nicodemus Gekone
Kenya Reinsurance Corporation Statement on the Suspension Of Hillary Wachinga as Managing Director and appointment of Nicodemus Gekone as Acting Managing Director.
In accordance with the Capital Markets Act and its Regulations, the Board of Directors of Kenya Reinsurance Corporation Limited wishes to announce a change in its executive leadership.
Dr. Hillary M. Wachinga has been suspended from his position as the Managing Director for 21 days with effect from 3rd September 2025. This decision was made by the Board following a preliminary review of internal matters, which is ongoing. The Board believes that this action is in the best interests of the Company and its stakeholders to allow for a thorough and impartial assessment.
The Board has appointed Mr. Nicodemus Gekone, currently the General Manager Property & Investments, to serve as the Acting Managing Director during this period. The Board has full confidence in Mr. Gekone's ability to provide steady leadership during this period.
The Board of Directors reaffirms its unwavering commitment to the highest standards of corporate governance and to protecting the interests of all its shareholders and stakeholders.
We remain focused on executing our long-term strategy and assure our stakeholders that our foundations remain strong and our business operations continue uninterrupted.
The Board will provide further updates as appropriate. We thank you for your continued trust and support.
By Order of the Board
CHARLES N. KARIUKI
COMPANY SECRETARY