Britam PLC has announced the retirement of Stephen Wandera, the former Principal Executive Director. A company announcement reveals that Stephen hit the age 60 ceiling, after serving the company for 26 years. Britam is yet to disclose his predecessor
His exit follows other changes in Britam’s executive board. In October, the company appointed Jackson Theuri as the Interim CEO of the General Insurance Business after the abrupt resignation of Margaret Kathanga.
Stephen Wandera joined Britam in August 1993 as a Business Development Manager. He later scaled career heights to Principal Executive Director, serving Uganda, Malawi, Rwanda, Tanzania, and Kenya.
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“Stephen has been a key member of the leadership team that has steered the growth of Britam from a small life insurance company based in Kenya to a leading diversified financial services company operating in several countries in the East, Central and Southern African regions”, said Group Managing Director Benson Wairegi.
Nevertheless, Stephen Wandera will continue to serve Britam as a board member in some subsidiaries starting December 2019.
Besides the leadership changes, Britam recorded impressive performance in 2019. The company recorded a 78% growth in pretax profit in the first half of 2019, posting a pretax profit of Ksh 2.4 billion.
