I normally eschew commenting on issues such as this, but I will weigh in this time round. As a shareholder in EB, I am actually unhappy about this state of affairs. We are not talking about the Board of Directors here. On the BoD, EB has 5 out of 11 Non-Central Kenya Directors. You could have an argument on this one about the core investors wanting to take care of their interest.
However, when it comes to Key Management, surely the rest of Kenya could at least provide 50%. I would actually expect higher, but 51% at the very least. EB is a Regional Bank and their management ranks should reflect as much. It is a shame that it does not!!!