Four short months after his contract was renewed to run until 2011, CEO Chris Mwebesa has resigned from the Nairobi Stock Exchange (NSE).
The whole affair is very mysterious. The board maintain that Mwebesa had their confidence, yet admit that they hid his resignation from the market while they attempted to change his mind.
Big Chris himself has given no reasons for quitting, and with the board keeping schtum, it’s unlikely we’ll ever know exactly why he decided to leave.
So many questions: who will replace Big Chris? How will the market react? Surely there is something unethical about hiding the resignation from the market? And what will Big Chris do next?
If you do have money in the market, hold on to your hat, because they next few days could be interesting.