Britam Holdings Plc has announced a new executive team that has seen nine executive mangement jobs scrapped.
Under the new leaner structure, the company’s executive team will comprise eleven Directors after dropping nine positions.
Britam has retained six key executives, with new mandates, from the previous Executive team, appointed one new executive member on promotion whilst announcing a new appointee who was externally sourced.
The Company is also currently in the process filling the vacant roles of Strategy & Investor Relations Director, Customer Experience Director and Legal & Compliance Director.
The new Executive leadership team include Ms Evah Kimani as the director, partnerships and digital, Ms Carol Misiko as the director for risk and compliance, Mr Ambrose Dabani as the director for retail and Mr Jackson Theuri as the director for Corporate.
Mr Saurabh Sharma will head the emerging consumer business unit while Mr Kennedy Aosa will be the director for international business.
Other appointments include Mr James Maitho (director, group human resources) and Mr Charles Kimani (finance director).
Another key senior appointment includes that of Mr Jude Anyiko who been appointed to the position of chief investments officer, Britam Asset Managers Limited, which has been reorganized as part of the Corporate Business Unit; while the role of Chief Actuary is yet to be filled.
Britam’s Group Managing Director, Mr. Tavaziva Madzinga, said the new executive structure promotes diversity and aims to build a pan-African team to deliver on the 2021- 2025 business strategy.
“Our new leadership team, which comprises a mix of talent from within the business and injection of new Executives, will go a long way in enhancing our customer focus and Pan-African ambitions. Our team’s diverse talents will also be leveraged to deliver new market solutions that will accelerate the company’s growth in the medium to long term,” said
Madzinga said the company has successfully completed phase one of its Voluntary Early Retirement (VER) program which aimed to reduce roles within its senior executive team.
Britam’s operating costs have been perceived to be higher than those of its peers with nearly 50% of these costs being staff costs. The business has also been top-heavy, driving operational costs even higher.
On March 1st this year, the Board of Britam Holdings Plc announced a new organisational structure that aimed at creating a more competitive, efficient and customer-centric organisation.
Additionally, it was to gear the organisation for enhanced digital innovation in its solutions and in product development.
Britam has hired the services of leading global management consulting firm, Boston Consulting Group (BCG), to develop an efficient business operating model and to drive change management.