Insurance company ICEA ion has announced the appointment of Philip Lopokoiyit as the new Chief Executive Officer and Principal Officer of the company following regulatory approval.
His appointment takes effect from September 20, 2021.
In a statement, ICEA Lion Group Chairman, James Ndegwa, stated that this appointment arises from the need for Paul Muthaura to step down from office “in line with medical advice to allow for his complete recovery following an accident in early 2021.”
“Philip brings over 20 years of commercial and financial leadership expertise to the role. He is a seasoned Commercial and Market Transformation Expert with both executive and non-executive Board Member experience,” Ndegwa said.
He added that noting his diverse Regional and Country executive leadership positions, the Board is confident in the adaptability, growth and change management competencies he will bring to the business.
“Philip has most recently executed key strategy execution and business delivery leadership in companies as diverse as Flamingo Horticulture Kenya and British American Tobacco (in both East and Central Africa, West Africa and Nigeria)having begun his professional career at PricewaterhouseCoopers,” Ndegwa noted.
He has also carried responsibilities of a Non-Executive Director in various NCBA and NIC Group entities within Kenya and Uganda, as well as on the Boards of CIC Insurance Group and CIC Asset Management.
He is a Member of the Institute of Certified Public Accountants of Kenya, a Fellow Member of the Institute of Chartered Accountants in England and Wales and a Member of the Chartered Institute of Management Accountants, UK.
Philip holds a Master’s Degree in Business Administration from Warwick Business School, United Kingdom and a Bachelor of Commerce in Accounting from the University of Nairobi.
He has also attended various leadership and corporate governance programs in institutions such as Harvard Business School, the Non-Executive Director’s Association UK, the Centre for Corporate Governance and the College of Insurance.
Ndegwa added that the Boards of the ICEA Lion Group appreciate the enormous contribution Paul has made as Chief Executive of ICEA Lion General during his tenure.
“Paul has been instrumental in providing exemplary leadership during the Covid-19 disruption ensuring business continuity and development of relevant innovations to ensure business success. The Board wishes him a quick and full recovery,” he concluded.
Paul will support Philip’s transition in the new role as outgoing Chief Executive until October 31, 2021, and will continue to support the Group in future as required.