Former KCB chief executive Martin Oduor-Otieno has been named the new East African Breweries Limited (EABL) chairman, cementing his position as among the highest-paid boardroom operators.
EABL said the appointment will set in on January 1, 2020 as the current chairman Charles Muchene retires having served for nine years.
The Capital Markets Authority’s Corporate Governance Code does not allow one to serve a firm as independent director beyond this period.
“The board of EABL takes this opportunity to congratulate Oduor-Otieno on his appointment,” the firm said.
Mr Oduor was appointed to the EABL board in May 2016 as an independent non-executive director and is currently the chairman of Kenya Breweries Limited and UDV Kenya, both being EABL subsidiaries. He is also a member in the audit and risk committee.
He is regarded as an accomplished business leader, having worked more recently with Deloitte East Africa as Partner, and with KCB Group as CEO among other senior private sector appointments.
He also served as Treasury PS and is currently an independent leadership and governance advisor as well as an executive coach.
Mr Oduor will be expected to lead EABL in the next phase of growth, with among the big projects being the Sh14 billion brewery in Kisumu.
His predecessor, Mr Muchene, has led the firm in strategic decisions that have delivered growth, according to EABL chief executive Andrew Cowan.
“He is leaving EABL on a sound footing, having overseen a host of developments across East Africa. His great insights and sound judgment of recent years will leave a lasting impact on EABL,” said Mr Cowan.