I&M Group PLC has announced significant changes to its leadership, with the retirement of Dr. Nyambura Koigi from the Board and the appointment of Mr. David Thuoi Ngata as the new Group Chief Finance Officer (Group CFO), effective October 16, 2024. This leadership transition reflects the Group’s strategic focus on strengthening its governance framework and enhancing its financial oversight capabilities.
Dr. Koigi, who joined I&M Group’s Board in 2015, made history as the company’s first female director and has since been a pivotal figure in driving the Board’s risk management strategy. Serving as the Chairperson of the Board Nomination, Remuneration & Governance Committee, she played a crucial role in shaping the Group’s approach to risk and governance. Her work involved championing critical risk management initiatives that reinforced I&M Group’s reputation for robust corporate governance.
“The Board wishes to thank Dr. Koigi for her invaluable contribution to the Board, her leadership and guidance on risk and governance matters, and wishes her the very best for the future,” the company said in a statement, recognizing her instrumental role in aligning the Group’s strategic vision.
Following Dr. Koigi’s departure, I&M Group has welcomed Mr. David Thuoi Ngata to the executive team as the new Group CFO. Mr. Ngata brings over 25 years of international experience in banking, finance, and accounting, with previous roles at American Express in New York and KPMG in South Africa. His appointment is anticipated to further strengthen I&M’s financial operations and compliance.
“Mr. Ngata holds a Master of Science in Business Analytics from Carnegie Mellon University, a Master of Commerce (Marketing) from the University of Nairobi, and is a Certified Public Accountant (CPA-K) and a member of ICPAK (Kenya) and AICPA (USA),” the announcement detailed.
The Board expressed confidence in Mr. Ngata’s ability to guide the Group’s financial strategy amid a rapidly changing economic landscape, stating, “The Board is pleased to welcome Mr. Ngata to I&M Group PLC and wishes him every best in this role.”
