(From The Nation (Kenya) - AAGM)
Byline: MUNA WAHOME
Directors of companies chairing more than two boards of listed concerns have about two weeks before they decide which ones to let go.
So does anyone who is a director in more than five quoted firms, Mr Paul Melly, the chief executive of regulator Capital Markets Authority, said on Tuesday evening.
The requirements would be enforced under the new corporate governance rules of the CMA that become operational in the new year.
Firms would not be allowed to retain executive chairmen.
In addition, listed firms would by next month have to establish auditing committees, to be …