Co-operative Bank has a new chairman. The bank has appointed former Treasury Director of Debt Management John Murugu as its new chairman.
He replaces Mr. Stanley Muchiri who is retiring after reaching the stipulated retirement age. Mr. Murugu is set to assume his new role at Co-op Bank from October.
“We wish to update that the board of directors of the Co-operative Bank has appointed Mr John Murugu to serve as chairman of the bank’s board with effect from October 1,” said Co-op Bank Group CEO Gideon Muriuki in a statement.
Mr. Murugu has been serving as a director at Co-op Bank since May 2015.
He had also previously worked at the Central Bank of Kenya (CBK) as the Director for Bank Supervision.
He holds a Bachelor of Education degree and Master of Arts in Economics and has been chairing Co-operative Bank’s credit committee.
Co-op Bank ha exuded confidence that Mr. Murugu is the best suited to steer it to more success. “It is during his tenure that the bank has successfully grown to one of the largest in the region with an asset base of over Sh. 365 billion, and over 6.2 million account-holders in 148 branches,” said Mr Muriuki.
