Mr Wanjuki Muchemi, executive chairman of technology firm Seven Seas. PHOTO | FILE | NMG
Summary
- The senior legal practitioner is the current executive chairman of technology firm Seven Seas.
- Former KRA boss Michael Waweru, businessman Robin Kimotho and Kenya Tea Development Agency chairman Peter Kanyago have all left TransCentury.
- Mr Zeph Mbugua, a co-founder of the company and its long serving chairman, resigned from the firm late June.
Former solicitor-general Wanjuki Muchemi
has joined the board of TransCentury #ticker:TCL, marking the latest
appointment at the investment firm which is undergoing a major
management shakeup.
Mr Muchemi, who served as the
solicitor-general for a decade beginning 2003, has been appointed as a
non-executive director of TransCentury “with immediate effect.”
The senior legal practitioner is the current executive chairman of technology firm Seven Seas.
“The
chairman and board of TransCentury welcomes Mr Muchemi and is delighted
to have him join the board,” the investment firm said in a notice to
investors Friday.
“His vast experience in the legal sector will further the skillsets and diversity agenda of the TransCentury board.”
Kuramo Capital last year invested Sh2 billion in the NSE-listed firm in exchange for a 25 per cent stake and several board seats, including the chairmanship which is now held by the Fund’s chief executive Shaka Kariuki.
Management purge
Several founder members of the company have since exited the company.
Former
Kenya Revenue Authority (KRA) boss Michael Waweru, businessman Robin
Kimotho and Kenya Tea Development Agency chairman Peter Kanyago have all
left the investment firm.
The latest change happened a
month ago when Anne Mutahi, the Standard Chartered #ticker:SCBK
chairlady, was appointed to the board, the first appointment of a female
board member at the firm since Carol Musyoka resigned two years ago.
Mr Zeph Mbugua, another co-founder of the company and its long serving chairman, resigned from the firm late June.
TransCentury’s board now comprises of six male directors with Ms Mutahi as the only female member.
They
include Mr Kariuki, Mr Muchemi, Nganga Njiinu, the CEO, and Wale
Adeosun, Kuramo’s chief investment officer and directors Njogu Kariithi
and Kamal Pallan.
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