*Nairobi, November 2, 2012:** *Family Bank has today announced the
stepping down of Mr. Titus K. Muya, its founder and long serving Chairman
and the appointment of renowned management guru and philanthropist, Mr.
Wilfred D. Kiboro as his successor effective 1st of January 2013. Mr Kiboro
has already joined the Board of Directors as a non- executive director.
Addressing the media at a Nairobi hotel, Family Bank CEO Peter Munyiri
hailed Mr. Muya for an illustrious career and solid vision, having started
the bank and served as both Chairman and Chief Executive Officer for 22
years and as the Chairman for the last six years. In the course of his
career, Mr Muya built a strong financial institution with assets in excess
of Khs.35 billion, 1200 employees, and over 1.2 million customers spread in
67 branches countrywide.
Mr Kiboro is joining Family Bank with a clear mandate on his hands to
accerelate the ongoing strategic steps the bank has been undertaking in
strengthening capacity at the board and management level. Family Bank will
tap on his vast international and local corporate experiences to steer and
transform the bank into a dynamic, world class organization. His coming to
the board is particularly important for Family Bank as the bank embarks
on the journey of raising capital in the market through Rights Issues and
subsequently listing on the Nairobi Securities Exchange.
Mr. Kiboro brings to Family Bank a wealth of experience gained from the
corporate world, having held both executive and board membership positions
in a number of large blue chip organizations. Besides being the Chairman of
Nation Media Group and sitting in the boards of its subsidiaries, he also
serves in the board of Air Uganda and is the Chancellor of Riara
University. He has also served in the Board of East African Breweries
amongst others. Until his appointment, Mr Kiboro was the Chairman of the
board of the Standard Chartered Bank Group.
“Mr Kiboro is a qualified engineer from the University of Nairobi and
started his career as an engineer with Shell /Esso. He rose through the
ranks to head the company’s Sales and Marketing functions. Later he was
appointed managing director for Rank Xerox and is the immediate former
Nation Media Group CEO,” said Mr. Munyiri.
Speaking at the media briefing, founder and outgoing Chairman Titus Muya
said he was confident Mr. Kiboro would help realize Family bank’s vision of
becoming a big global bank. “I step down as the Chairman of the Family
Bank Board a happy and fulfilled man because this bank we built has been
able to touch and transform many peoples’ lives . Now time has come for me
to pass on the baton to another great leader whom I have known and admired
for many years. There is no doubt in me that he will indeed take this bank
to the next level. I wish him all the best of success as he steers this
organization to even greater heights,” said Mr Muya. He said Family Bank is
lucky to have Mr. Kiboro as Chairman as his proven leadership skills and
experience would be pivotal in steering the bank to market leadership in
the greater East Africa region. “Mr Kiboro assumes leadership of the bank’s
top most decision-making organ at a time when the bank has set for itself
ambitious growth plans including listing at the Nairobi Stock Exchange
planned for next year,” said Muya.
In the last one year, Family Bank has strategically invested in people,
banking technologies as well as partnerships in order to support an
aggressive growth strategy. The bank has been expanding its geographic foot
print across the country to grow its portfolio client’s base.
While thanking Family Bank shareholders and the board of directors for
giving him the opportunity to serve on its board, Mr Kiboro paid a glowing
tribute to Mr Titus Muya for the selfless sacrifice that he has made in
founding and steering the bank to the prestigious position it is in
today. He noted that not many people achieve such a feat in their lifetime.