Developer appoints new chairman, independent directors

Rendeavour Board Chairman David Kippen. [Courtesy]

Rendeavour, the operator of mixed-use development Tatu City, has announced the appointment of David Kippen as Chairman of the Board and two new board members.

Mr Kippen takes over from the founding Head of the Board Frank Mosier, who retires after serving for more than eight years.

Mr Mosier, however, remains a board director and one of the largest shareholders of Rendeavour, Africa's new city builder and the developer of Kenya's first operational Special Economic Zone (SEZ), Tatu City.

He joins Lord Ashcroft, who continues in his role as Deputy Chairman. Rendeavour, Africa's new city builder has also picked two new independent directors - Graeme Wheeler and Darrell Blocker.

Besides its operations in Kenya, Rendeavour is also the owner and developer of Alaro City, a partnership with the Lagos State Government in Nigeria's Lekki Free Zone; Jigna, in Nigeria's capital, Abuja; and Kiswishi SEZ, the first private SEZ in DRC. In Ghana, Rendeavour is building Appolonia City and King City.

"We are pleased to strengthen our board with versatile emerging markets experts with experience in global finance, economic development and security," said Founder and CEO of Rendeavour Stephen Jennings.

"In David, we have a long-serving director; in Graeme, we have a globally renowned economist, central banker and policy maker; and in Darrell, we have one of the most respected intelligence officers to have served in Africa."

On the Rendeavour board, Mr Kippen represents Torstein Hagen, the founder, chairman and CEO of Viking Cruises and a long-time Norwegian investor in Rendeavour. Rendeavour's other board members are Yomi Ademola, Simon Edwards and Robert Reid.

"On behalf of the board, I would like to thank Frank Mosier for his eight years as chairman and his ongoing support for Rendeavour as the company's principal American shareholder," Mr Jennings said.

Mr Kippen is a private equity and infrastructure investor based in London with a career spanning TMT, energy and industrial sectors with Credit Suisse First Boston, JPMorgan Chase and UBS based in London, New York and San Francisco.

Mr Wheeler, on the other hand, served as Governor of the Reserve Bank of New Zealand from 2012 to 2017.

Previously, he held senior positions at the World Bank, including Managing Director responsible for World Bank operations from 2006 to 2010.

Mr Blocker retired after a successful 32-year career in the US Intelligence Community, earning the CIA's Distinguished Career Intelligence Medal in 2018. His CIA career highlights include serving as Chief of Africa Division, Deputy Director of the Counterterrorist Center, Chief of the agency's iconic training facility and multiple tours as a Chief of Station.