NSE Addresses Kiprono Kittony’s Resignation as Chairman

The Nairobi Securities Exchange (NSE) has addressed recent reports suggesting that Board Chairman Kiprono Kittony had stepped down from his position.

In a statement on Wednesday, March 11, NSE clarified that Kittony continues to lead the organization and remains fully engaged in its strategic initiatives

"The Nairobi Securities Exchange PLC (NSE) wishes to clarify that recent media reports about the departure of Board Chairman Kiprono Kittony, are categorically inaccurate. Kittony remains Chairman and is actively leading the Exchange in advancing its 2025-2029 Strategy," the statement read.

Regarding the duration of his leadership, the NSE provided clear timelines for both his chairman and board director roles.

"Kittony’s term as Chairman runs until July 2026, and his Board Director role continues until June 2027," the statement added.

NSE reiterated its commitment to transparent governance practices, ensuring that all leadership transitions follow proper procedures.

"As a market regulator and a public listed company, NSE follows transparent and established governance procedures for all leadership transitions, in line with its Articles of Association, Capital Markets Authority (CMA) regulations, and statutory," the statement further read.

This comes days after he was appointed to Kenya Airways as the Chairman and Independent Non-Executive Director.

He is credited with revitalizing the Kenya National Chamber of Commerce and Industry and has chaired or co-founded several major organizations, including Creditinfo CRB Kenya, Mtech Limited, Betway Kenya, and Radio Africa Group. 

Beyond Kenya, Kittony advises IFHA, a private equity fund based in Amsterdam, and serves as Vice Chairman of the World Chambers Federation in Paris, where he represents Africa.

In addition, he serves as a director at the Central Depositary and Settlement Corporation. 

Academically, Kittony holds both a Bachelor of Commerce degree and a Bachelor of Laws degree from the University of Nairobi. He also earned a Global Executive MBA from USIU and Columbia University.

Kittony was appointed to the board alongside Chris Diaz, Winnie Iminza Nyamute, and David Ndii.

Diaz joined the board as an Independent Non-Executive Director, bringing more than 34 years of experience in strategy, board leadership, and integrated business solutions.

He served as Chairman of Adili Group, Director at ALN Africa and the Middle East, and Group Director at Bidco Africa.

Diaz had also played influential roles in aviation through engagements with Kenya Airways and the Kenya Airports Authority.

Outside the corporate sector, he was a Fellow of the Marketing Society of Kenya and had contributed to national branding initiatives.

His achievements included becoming the first African to win the Global Marketing Leader of the Year award. He had also received the Elder of the Burning Spear honor for community and environmental service.

Nyamute was appointed as an Independent Non-Executive Director.

She was an Associate Professor at the University of Nairobi and a respected scholar in finance and accounting with more than three decades of academic and professional experience.

Nyamute was known for championing experiential learning and had guided University of Nairobi CFA Institute Global Research Challenge teams to regional success.

Beyond academia, she had served in key corporate governance roles, sitting on boards such as the Nairobi Securities Exchange, Sameer Africa Plc, and Family Bank Limited.

Her professional engagements also included active membership in the Institute of Certified Public Accountants of Kenya (ICPAK), participation in the FiRe Awards, and financial training consultancy.

Ndii was appointed as a Non-Executive Director.

He served as the Chairperson of the President’s Council of Economic Advisors, where he led the team responsible for guiding the country’s economic transformation agenda and advising the president on economic policy.

With more than 30 years of experience, Ndii was widely regarded as an accomplished economist, author, and strategist.

He held advanced degrees from the University of Oxford and the University of Nairobi and was both a Rhodes Scholar and an Eisenhower Fellow.

Ndii's contributions included leading the Economic Recovery Strategy during the NARC administration and advising on Kenya’s constitutional review process.

He had also served as an adviser to the President of Rwanda and consulted for international financial institutions.

His previous roles included Chief Economist at Equity Bank and an economist at the World Bank.

"The Board, Management and Staff of Kenya Airways Plc hereby congratulate Kiprono Kittony, Chris Diaz, Prof. Winnie Iminza Nyamute and David Ndii on their appointment and wish them success in their new roles," the announcement read.