Late Billionaire Chris Kirubi’s daughter Mary-Ann Musangi has resigned from Sidian Bank days after President William Ruto nominated her husband Andrew Musangi to serve as the new Central Bank of Kenya (CBK) chairperson.
Sidian Bank announced Mary-Ann’s exit from its board after eight years. She resigned from her position to avoid a conflict of interest if her husband gets approval from Parliament.
Mary-Ann who is also the CEO of Haco Industries, was instrumental in the rebranding of the lender from K-Rep Bank to Sidian Bank in 2016.
Sidian Bank's chairman, James Mworia, approved the resignation in a statement, stating the bank was committed to establishing and adhering to sound corporate governance and best practices.
“We remain committed to the highest standards of corporate governance and business ethics,” the statement read in part.
Mary-Ann, according to Sidian Bank CEO Chege Thumbi, has been an important part of the bank's journey.
“She has been a driving force in championing our values and guiding us through pivotal moments in the bank,” he said.
She has been a member of the Sidian Bank Board of Directors for eight years. As chair of the Nomination Committee, she oversaw the process of making Sidian Bank a sought-after employer brand.
Mary-Ann’s husband, Musangi was picked by President Ruto to replace Mohammed Nyaoga as the CBK Chairperson after his tenure (Nyaoga) tenure expired in June 2023.