Obath earns another board appointment

Patrick Obath has been appointed Unga director. FILE 

By NEVILLE OTUKI

In Summary

• The Unga job is Mr Obath’s third board appointment among firms listed at the NSE including Kenya Power and Standard Chartered Bank.

Patrick Obath has joined the club of directors who sit on multiple boards of firms listed at the Nairobi bourse after Unga Group made him a director.

Unga deepened board changes with the appointment of Mr Obath after it tapped Mary M’Mukindia, a former CEO of National Oil Corporation of Kenya (Nock), and elevated Isabella Ocholla-Wilson as chairperson.

The Unga job is Mr Obath’s third board appointment among firms listed at the Nairobi Securities Exchange (NSE) including Kenya Power and Standard Chartered Bank.

“The board is pleased to announce the appointment of Patrick Obath on the board with effect from September 26,” Unga said in a statement on Friday.

Mr Obath, 59, previously served as managing director of Kenya Shell. He joins the likes of Daniel Ndonye, Francis Okello, Carol Musyoka and Peter Munga who sit on three or more boards of firms listed at the NSE.

Corporate governance guidelines provided by the Capital Markets Authority allows individuals to sit in not more than five public listed companies at any one time.
 

Influential businessmen Jeremiah Kiereini and Richard Kemoli quit Unga’s board last year in response to a directive by the Capital Markets Authority (CMA) barring the two and six others from holding directorships in companies listed on the NSE.

They were barred on alleged governance breaches at CMC Motors. Their exits created room for Mr Obath and Ms M’Mukindia to join the miller’s board