CIC Group appoints new CEO

By K24Tv Team On Tue, 9 Jun, 2020 08:44 | < 1 min read
Patrick Nyaga
Mr. Patrick Nyaga. PHOTO | COURTESY

By Zachary Ochuodho

The board of directors at CIC Insurance Group PLC and its subsidiaries have appointed Patrick Nyaga group chief executive effective June 22, 2020.

Nyaga takes over from Tom Gitogo, who left on October 9, 2019, and was replaced by Elijah Wachira in an acting capacity as recruitment of a new boss commenced.

Nyaga has more than 28 years of experience in Kenya and the region with various organisations.

He has worked with Absa bank (formerly Barclays Bank), KPMG and later as the group finance and strategy director for Co-operative Bank Group.

Co-operative movement CIC Group chairman Japheth Magomere said Nyaga has invaluable strengths that position him to drive CIC group’s business “at this critical period” which includes great links and experience with the co-operative movement.

The latter has been cited as ClC’s core and primary market segment as well as core shareholder base.

“He is also in a vantage position to replicate the broad globally acclaimed new performance drivers in operational efficiency with huge cost savings, sales force efficiencies, performance-based reward structures, data analytics digitisation that he has had the opportunity to drive implementation thereof as head of finance and strategy in his previous employment,” said Magomere.

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