Stanbic Holdings PLC has appointed Ms Sabira Thakker as an Independent Non-Executive Director of the Company and an Independent Non-Executive Director of Stanbic Bank Kenya Limited. In a notice on July 24, the board announced that Sabira is set to assume the role effective July 23, 2024.
“The Board of Directors of Stanbic Holdings Plc (the Company) is pleased to announce the appointment of Ms. Sabira Thakker as an Independent Non-Executive Director of the Company, effective 23rd July 2024. Ms Thakker has also been appointed as an Independent Non-Executive Director of Stanbic Bank Kenya Limited, effective 23rd July 2024,” the statement read in part.
According to the board, Ms. Thakker has had an extensive career as a corporate banker with over 25 years of banking experience. Before joining Stanbic Bank, she worked with Equity Bank Kenya Limited, Citigroup, and Trade Bank. In addition, Ms Thakker has undertaken financial services training, consultancy, and business development.
The board described Sabira as a visionary and catalyst for change, deeply dedicated to the development and progress of the financial services sector. “Ms. Thakker is a thought leader and change agent, deeply passionate and committed to the growth and advancement of the financial services sector,” the notice read. Sabira holds a Bachelor of Science in Biochemistry and Chemistry from the University of Nairobi Similarly, she has undertaken several professional courses and training courses. Following her appointment, the board wished her well as she embarked on her new role. “The Board wishes Ms. Thakker all the best in her tenure,” the board stated.
A non-executive director (NED) is a member of a company’s board of directors who is not part of the executive management team. They are typically involved in providing independent oversight and guidance to the company’s management.
Since non-executive directors do not hold C-level or managerial positions, they are thought to understand the interests of the company with greater objectivity than the executive directors, who may have an agency problem or conflict of interest between management and shareholders or other stakeholders.
Also known as external directors, independent directors, and outside directors, non-executive directors are often installed on a firm’s board for public relations reasons. For instance, a particular non-executive director’s community standing, a record of philanthropy, and prior experience could provide positive exposure and symbolic value for the firm.
Some of the responsibilities include monitoring executive directors and acting in the interest of the company stakeholders. Although they aren’t employees, most non-executive directors may still be compensated for their time through fees, equity, and cash payments. They differ from executive directors who are hired to oversee the operational activities of non-profits.
