How Co-operative Bank’s Dr. Gideon Muriuki Rose Through The Ranks As Best CEO

Co-operative Bank of Kenya’s Dr. Gideon Muriuki is among the celebrated Chief Executive Officers through his exemplary work over the years now.

Dr. Muriuki who has been the highest paid Chief Executive Officer (CEO) in Kenya is a stand out performer through his past and present track records. This is evident as Co-operative paid Muriuki a whopping Sh376.4 million in the financial year 2018.

This represents an increase of Sh6.4 million from the Sh370 million the CEO pocketed in the previous financial year.

During the 2018 financial year, Muriuki was paid a bonus amounting to Sh271 million. His salary grew by Sh5.6 million from Sh99.8 million in 2017 to Sh105.4 million.

This established Muriuki as the highest paid chief executive of all the Nairobi Securities Exchange (NSE) listed companies, a position he has held over the past two years.

This means that the Co-op Bank boss earned more than Sh30 million per month and over Sh1 million per day in the period under review.

Additionally, Muriuki will pocket Sh103 million as dividend from the lender from his 1.77 percent stake in Co-op Bank.

Co-op Bank told the Business Daily that the remuneration is a reward to Muriuki, who has transformed the bank into Kenya’s third-biggest lender by earnings and assets.

“The group has invested in a performance-driven reward structure, and the board has rewarded tremendous growth and transformation of the bank from a huge loss position of Sh2.3 billion in the year 2001 and an asset base of only Sh25 billion to now one of the largest banks in the region with an asset base of over Sh425 billion,” Co-op Bank told the publication.

“It is a celebrated transformation journey now with the bank for over 18 years as the chief executive officer.”