Standard Chartered Bank has announced today that its Chairman, Wilfred Kiboro, has stepped down from serving as the bank's board chairman. In a statement to the Nairobi Securities Exchange, the bank's Chief Executive Officer Richard Etemesi said Kiboro steps down with effect from 2nd November 2012 to pursue other interests.

Standard Chartered, Etemesi's letter said, has appointed Anne Mutahi as the interim Chairman while the Bank seeks for a replacement. To the time of her appointment, Anne has been an Independent Non-Executive Director of the Bank.

Etemesi said he has been sadded to see Wilfred Kiboro leave the Bank. Etemesi described Kiboro as a true inspiration to the management of Standard Chartered Bank who made invaluable contributions in building corporate governance between the Bank and the various stakeholders. He has been a Non-Executive Director of Standard Chartered Bank since April 2nd, 2007. He has been the Chairman of Standard Chartered Bank Kenya  since May 28, 2009.

Kiboro formerly served as Group Chief Executive Officer of Nation Media Group until October 31, 2006 and also served at Rank Xerox and in various capacities within Shell and Esso. He served as Managing Director of Rank Xerox Kenya and Nation Newspapers.