CMA starts hunt for Muthaura’s successor

The Capital Markets Authority (CMA) has started the process of identifying a suitable candidate to succeed the current Chief executive Paul Muthaura, who opted not to renew his contract.

In a job advertisement by the board, candidates have until September 27, 2019.

“The position will fall vacant in January 2020 and follows Mr Muthaura’s recent notice of intention not to renew his contract when it expires on 31 December 2019,” CMA said in a statement.

The Treasury Cabinet Secretary will appoint a new chief executive on recommendation of the CMA Board for a four-year renewable contract.

CMA Board Chairman James Ndegwa said the CEO’s role would provide vision and leadership in the regulation and development of Kenya’s capital markets.

“The future Chief Executive will also be responsible for developing and implementing strategies to effectively address emerging issues, risks and opportunities in the markets to safeguard investor confidence and market integrity,” Ndegwa added.