Sidian Bank, a subsidiary of Centum Investment Company Plc, has made an important announcement regarding its board composition.
MaryAnn Musangi (pictured), the CEO of Haco Industries, has taken the decision to step down from the bank’s board in order to prevent any potential conflicts of interest.
MaryAnn Musangi submitted her resignation from the Sidian Bank board following her husband, Andrew Mukite Musangi’s nomination by President William Ruto to serve as the chairperson of the Central Bank of Kenya (CBK). This nomination is currently pending vetting by Parliament.
James Mworia, the Chairman of Sidian Bank, has officially approved MaryAnn’s resignation.
He emphasized the bank’s unwavering commitment to upholding strong corporate governance principles and adhering to the highest standards of business ethics.
In a statement, Mworia noted, “We remain committed to the highest standards of corporate governance and business ethics.”
Chege Thumbi, the CEO of Sidian Bank, expressed gratitude for MaryAnn Musangi’s significant contributions to the institution. He described her as a driving force in promoting the bank’s core values and guiding them through pivotal moments.
MaryAnn Musangi had been an integral part of Sidian Bank’s board for a period of eight years.
During her tenure, she served as the chairperson of the Nomination Committee and played a key role in the transformation of Sidian Bank into a preferred employer brand.
Her departure from the board marks a significant change in the bank’s leadership landscape.
