NSE CEO Mwangi to exit in November

Kenya: The Nairobi Securities Exchange (NSE) has announced the exit of its Chief Executive, Peter Mwangi. This comes after six years at the helm of East Africa’s largest exchange.

The move, according to the bourse’s board, is in compliance with the amendments to the Capital Markets (Licensing Requirements) Regulations (2002), which require the CEO of an exchange to serve for only two terms. The new regulations came into force in 2012. In a statement to the newsrooms, Chairman Eddy Njoroge said recruitment of his successor would commence immediately.

“The Board of Directors is very appreciative of the work Peter has done and will ensure a smooth transition,” said Mr Njoroge. Mwangi is expected to step down from his position effective November 23, 2014 after serving the second term of his three-year contract.