Britam Holdings Plc, a listed diversified financial services group, is set to replace two directors when its shareholders meet on 8th June 2022.
Mohammed S. Karama and Ms Marianne Loner, both non-executive directors of the Group, will retire at this meeting. Although they are eligible for re-election, they have opted to leave.
Karama had been acting Board Chairman at Britam from February 2021 until the end of last year.
This leaves Kuria Muchiri, the board chairman, and Edourd Schmid, a non–executive director, who are both due to retire at this meeting but have offered themselves for re-election.
Other non-executive directors making up the Britam Board include George Odo, Peter Munga, Jimnah Mbaru, Caroline Kigen and Josephine Ossiya, while Winniefred Juma is the Company Secretary.
Britam Boardroom and Executive Suite Changes
In December 2021, the Britam Board of Directors picked on Kuria Muchiri as Board Chairman to replace Mohammed Karama. This followed the sudden resignation of Tavaziva Madzinga, who resigned to join Santam, a South African underwriter.
In January 2022, Charles Kimani-who is a former Finance Director at the Group, was appointed as its Acting Group Managing Director after receiving approval from the Board.
Njuguna thus takes over in an acting capacity from Madzinga.
Britam Holdings Plc has interests across the Eastern and Southern Africa region, with operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi.
The Group offers a wide range of financial products and services in Insurance, Asset management, Banking and Property.
Britam is one of the listed firms at the Nairobi Securities Exchange(NSE) that is not rewarding its shareholders for the financial year ended 31st December 2021.
The AGM will also re-elect Ms Caroline Kigen and Ms Josephine Ossiya to the Board Audit & Risk Committee to re-appoint PricewaterhouseCoopers (PwC) as auditors.
Registration for the AGM opens on 13th May 2022 at 9:00 a.m. and will close on 6th June 2022 at 11.00 a.m.
This shareholders’ meeting, which will be closely watched due to recent changes to the c-suite, will be streamed live to be provided to registered shareholders.
A link will be sent out to all eligible to attend some eight hours before the meeting.
ALSO READ: Britam Made Net Profit of KSh 72.1 M in 2021
