Susan Mboya-Kidero has resigned as board chair and director of Liberty Holdings Ltd after clocking almost six years of service at the insurer.
The firm, while not giving a reason for her resignation, said non-executive director Philip Odera will act as chairman until her replacement is found.
DR SUSAN MBOYA resigns as board chair and director of Liberty Holdings effective October 24, insurer to announce her replacement replacement in due course. pic.twitter.com/Xahtvlw7yz
— BusinessDaily Africa (@BD_Africa) October 25, 2018
“Under her tenure as chairman, the company received acknowledgement as a leading listing company in corporate governance. The board thanks Dr Mboya for her invaluable service…and wish her well in her future endeavours,” the firm said in a statement signed by company secretary Caroline Kioni today.
Dr Mboya, who is also wife to former Nairobi Governor Evans Kidero, was one of few women in Kenya at the helm of boards of Nairobi Securities Exchange-listed firms.
Her resignation leaves only Uchumi , Eveready, Standard Chartered Bank Kenya and Unga Limited with women-led boards.
This might serve as a major blow to Kenyan women in regard with the gender equity in Kenya.
Most boards in the country are led by men, and Dr Mboya’s resignation leaves a big gap among the women leading boards.
Dr Mboya replaced former Liberty chairman Jeremiah Kiereini in 2013, shortly after joining the insurer as a non-executive director in December 2012.
Dr Mboya replaced former Liberty chairman Jeremiah Kiereini in 2013, shortly after joining the insurer as a non-executive director in December 2012.
She was also the immediate former President of the Coca-Cola Africa Foundation.
Dr Mboya leaves at a time when analysts Dyer & Blair and Genghis Capital have projected better financial performance for Liberty Holdings on the back of expected growth of the firm’s long-term business.
Other women chairs of bourse listed firms include Uchumi’s Catherine Ngahu, Eveready’s Lucy Waithaka, Unga Limited’s Isabella Ocholla-Wilson and Standard Chartered’s Anne Mutahi.