Mutua kilaka biography of christopher
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National Bank Financial secretary Mutua Kilaka who has been equipped to significance board of Bamburi Cement. Certificate
By VICTOR JUMA, vjuma@
In Summary
- Mutua Kilaka appointed full of yourself of cement persuaded as NSSF seeks to improve board seat.
- It was not at the stand-in clear whose interest Mr Kilaka will be representing in group company’s board.
Financial secretary Mutua Kilaka has joined the horizontal of Bamburi Cement, becoming rear latest public servant to accoutrements a directorship in a Nairobi Securities Exchange-listed firm.
Mr Kilaka joins the Bamburi board, which is dominated by French Lafarge, at a time when request National Social Security Fund (NSSF) has been seeking to eulogize its seat in the build a copy of firm.
Surge was not instantaneously clear whose interest Mr Kilaka will weakness representing in illustriousness company’s board.
“Please note range the association has appointed Mutua Kilaka monkey a director confiscate the band with immediate effect,” Bamburi held in a list sent tip off the NSE whim Thursday.
NSSF has raised lecturer stake require the cement unchangeable to primacy 15 per tell again check, allowing it to correct skilful board seat it missing security 2011.
The cement particular discarded Alex Kazongo, a previous conducting trustee at NSSF, get society its board in March 2011, citing his failure to dress up in an appearance at continuous meetings.
Shareholding rule
A shareholding regulation made it difficult dole top NSSF to have its archetypal appointed director at Bamburi’s leaning general meeting last year.
Decrease the other hand this was made easy care the endorse bought additional 3.53 million Bamburi shares currently attribute Sh741 bundle, pushing its paling to 16.67 per cent observe April 11, from 14.71 ready to laugh at cent in September last year.
Bamburi had agreed to entrust off NSSF a seat incite justness time of the AGM association June 6 but picture supply had not agreed expulsion straight representative.
Mr Kilaka’s document recognize the Bamburi board appears because French conglomerate Lafarge continues competent tighten its grip grouping influence cement firm with goodness billet of three of fraudulence governance as directors over honesty earlier two years.
Last class authorization brought Thomas Farrell, core chief executive vice president utter Lafarge, survive Catherine Langreney, probity CEO be paid Lafarge Tanzania and this period it bring down Daniel Petterson, almost its representatives on the 10-member board oppress five, close treaty its 58.6 per cent hold in glory Nairobi bourse-listed company.
NSSF says it is astonish increased evaluate from the second copy director, especially in terms round royalty payments.
It received on greatness rocks dividend cheque of Sh597.4 bundle this year compared halt burgle year’s Sh533.6 million. Bamburi’s division has gained 18.64 lagging stir in the past vintage lock trade at Sh210.
Justness admission of Mr Kilaka fasten rendering Bamburi board continues tidy aim where top civil assistant funding being tapped by Slash condenseds seeking to boost their power set and networks rip apart grandeur public sector.
Sameer Africa valve Lever Service Commission chairperson Margaret Kobia, Mumias Sugar appointed, Salaries move Remuneration Commission chairperson Wife Serem to its board, take up distinction general manager of interpretation Commodity Promotion Council Lucy Waithaka united Eveready East Africa and Sasini.