Martin Oduor Otieno Salary: Former KCB chief executive officer and leading corporate figure Martin Oduor-Otieno has emerged as one of the best non-executive directors in Kenya’s listed firms.
This is after revelations that he earned a total of Sh. 26.4 million last year from his roles as a non-executive director in four listed firms.
According to a report that appeared in the Business Daily, Martin Oduor Otieno salary, which stood at Sh. 24.7 million in 2017, is more than what several publicly traded firms such as Sasini and Nairobi Securities Exchange (NSE) pay their chief executive officers.
“Mr. Oduor-Otieno is paid fees as a board member of South Africa’s Standard Bank, Kenya Airways , British American Tobacco (Kenya) and East African Breweries (EABL). He is also a director of the privately-held GA Life Insurance Company. Standard Bank, the largest lender in Africa by assets, paid Mr Oduor-Otieno the largest amount at Sh. 15.7 million in the year ended December 2018 compared to Sh. 15.3 million the year before. EABL paid him Sh. 6.7 million in the year ended June 2019, down from Sh. 7.2 million a year earlier. He earned Sh. 2.1 million from BAT Kenya in the year ended December 2018, slightly up from Sh. 2 million the previous year,” says the report. “His compensation over the same period at Kenya Airways rose to Sh. 1.8 million from Sh. 108,000. He joined the national carrier’s board in the last six weeks of 2017.”
It adds that Mr. Oduor-Otieno’s compensation is a function of his vast experience and the fact that he serves on the boards of some of the largest companies in the region.
“Standard Bank says it appointed the Kenyan national in 2016 because of his extensive banking experience of more than 18 years, strategy development and execution skills, strong leadership and governance experience,” the report says. Mr. Oduor Otieno rose to fame when he led the Kenya Commercial Bank as CEO.