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FAMILY BANK STEALS THE SHOW FROM KCB!
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tassia
#41 Posted : Monday, June 20, 2011 1:50:18 PM
Rank: Member

Joined: 4/25/2011
Posts: 368
Location: Nairobi
Abby wrote:
I thought Family Bank have a CEO --- Kinyanjui or a name like that?


Dont know what will happen to Kinyanjui but here s the link.
http://www.nation.co.ke/...1006/1185416/-/1rkc32/-/
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Sasha
#42 Posted : Monday, June 20, 2011 2:06:09 PM
Rank: Veteran

Joined: 9/5/2007
Posts: 627
A lot of misinformation on this thread, some of which has been cleared. Munyiri was appointed by the MOO management as deputy CEO because of his vast experience, influence and contribution to the KCB Group. Kimani was appointed by the board to watch over the Group Controls.

The grapevine has it that the board and management were unable to decide who was to take over as CEO when MOO was expected to leave at the end of his contract on 30 April 2011. Remember they extended his contract by 2 years effective 1 May 2011 on 4 May 2010!

Same grapevine also has it that Kimani and Oduor were not seeing eye-to-eye on many issues and that MOO favoured Munyiri to take over.

And who says that Family Bank have not poached Munyiri from KCB to help them get out of the doldrums?
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  | | Edit by user: Monday, June 20, 2011 2:13 PM | Reason: Not specified
Layman
#43 Posted : Monday, June 20, 2011 2:25:07 PM
Rank: Member

Joined: 9/21/2006
Posts: 422
Location: Nairobi
gathinga wrote:
mwanahisa wrote:
YES, INDEED YOU ARE WRONG! The payoff is 1.5 months per year worked not for all the months. Still, it is a pretty good deal for Munyiri et al.

Genghis Khan wrote:
They say lumpsum is:

1.5*NumberOfMonthsInKCB*Salary

Assuming conservatively that the DCEO salary after 20years is 2M...

1.5 * 240 * 2,000,000 =

KES 720,000,000 Gross

After GoK promptly takes 30% tax...

KES 500,000,000 take home!!!!!

And then there is PENSION!

Someone please tell me am wrong... I am a KCB shareholderSad


Still very good cash. I also want to be fired!



Weweweeeeee..... stop misleading us, he gets paid what is equal to one and half months salary for every year worked. Eg. if the salary was 2m per month at the point of departure then he gets 3m per year worked. In addition, being fired is not the same as taking " voluntary early retirement" should the company present such an offer to staff.
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  | | Edit by user: Monday, June 20, 2011 2:29 PM | Reason: Not specified
gathinga
#44 Posted : Monday, June 20, 2011 3:00:35 PM
Rank: Veteran

Joined: 11/30/2006
Posts: 635
tassia wrote:
[quote=Abby]I thought Family Bank have a CEO --- Kinyanjui or a name like that?


Dont know what will happen to Kinyanjui but here s the link.
http://www.nation.co.ke/...006/1185416/-/1rkc32/-/[/quote]


Chairman of Family talking about CEO position. Its a case of your boss discussing your job while you are still in office.
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Pedro_Nasinyama
#45 Posted : Monday, June 20, 2011 3:25:14 PM
Rank: New-farer

Joined: 5/11/2011
Posts: 63
Those who have worked with with Munyiri are familiar with his management style unless he changes. Very good at undermining fellow staff, he is a big talker, believes in God-father approach, night meetings, office camps, vendetta, back-stabbing et all. Ask former colleagues at Stanchart, Co-op, KCB.

Why was there an exodus of Co-op staff to KCB immediately he left Co-op. It was his way of hitting back at his former boss at Co-op Gideon by poaching staff from there.

You may also want to read the articles in the press prior to
the Mckinsey study about his crusade with one Tim (from Co-op)to undermine MOO.
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githundi
#46 Posted : Monday, June 20, 2011 5:32:19 PM
Rank: Veteran

Joined: 11/19/2010
Posts: 1,308
Location: nairobi metropolitan
Given 3 months severance pay+ 1.5 months per every year worked+ 40% rebate on loan + medical all. is an offer i can take for a late twenties and qualified employee. The kcb offer is too good that it can only benefit the bank if it was meant for eldery, overpaid and less productive employees. Otherwise the voluntary early retirement offer might leave kcb stuck with staff it aimed to entice to retire( those who have no otherwise.
Democracy does not belong to the dead
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Hunderwear
#47 Posted : Monday, June 20, 2011 6:41:57 PM
Rank: Member

Joined: 4/14/2011
Posts: 639
Did they confirm him as the new ceo ama bado?
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Cde Monomotapa
#48 Posted : Monday, June 20, 2011 6:58:36 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
githundi wrote:
Given 3 months severance pay+ 1.5 months per every year worked+ 40% rebate on loan + medical all. is an offer i can take for a late twenties and qualified employee. The kcb offer is too good that it can only benefit the bank if it was meant for eldery, overpaid and less productive employees. Otherwise the voluntary early retirement offer might leave kcb stuck with staff it aimed to entice to retire( those who have no otherwise.

Glad u raised this. It has me concerned too!! Last year V.E.R was also put out n' only 200 out of a targeted 1K took it up. I suspect there are some ol' croonies wamekamatana huko ndani! Saidia!
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erifloss
#49 Posted : Monday, June 20, 2011 7:27:37 PM
Rank: Member

Joined: 6/21/2010
Posts: 514
Location: Nairobi
Sasha wrote:
A lot of misinformation on this thread, some of which has been cleared. Munyiri was appointed by the MOO management as deputy CEO because of his vast experience, influence and contribution to the KCB Group. Kimani was appointed by the board to watch over the Group Controls.

The grapevine has it that the board and management were unable to decide who was to take over as CEO when MOO was expected to leave at the end of his contract on 30 April 2011. Remember they extended his contract by 2 years effective 1 May 2011 on 4 May 2010!

Same grapevine also has it that Kimani and Oduor were not seeing eye-to-eye on many issues and that MOO favoured Munyiri to take over.

And who says that Family Bank have not poached Munyiri from KCB to help them get out of the doldrums?

I thought MOO'contract was extended for another 2 yrs when it expires on May 1-2011 to 2013.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Wa_ithaka
#50 Posted : Monday, June 20, 2011 7:32:32 PM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Story now confirmed http://www.capitalfm.co....mily-Bank-gain-6263.html
The Governor of Nyeri - 2017
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