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Kenya Re - 2018 and beyond
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iris
#71 Posted : Thursday, March 15, 2018 6:52:40 PM
Rank: Member

Joined: 9/11/2014
Posts: 228
Location: Nairobi
Mtafiti wrote:
In my utafiti life, I have interacted with the 6 reinsurance firms which are physically situated in Nairobi...before the entry of SCOR, WICA Re. Africa Re is the largest in all core spheres. The current affairs in Kenya Re have nothing to do with mismanagement.
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VituVingiSana
#72 Posted : Thursday, March 15, 2018 10:08:49 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Sacked Kenya Re chief blames his job loss on chairman ouster bid
https://www.nation.co.ke...43464-8728ldz/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#73 Posted : Thursday, March 15, 2018 10:27:36 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
[quote=VituVingiSana]Sacked Kenya Re chief blames his job loss on chairman ouster bid
https://www.nation.co.ke...3464-8728ldz/index.html[/quote]

Dirty games being played.
The chairman wont survive the AGM now that he doesn't have support of Kinyua and in extension gava
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#74 Posted : Friday, March 16, 2018 7:02:02 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
[quote=VituVingiSana]Sacked Kenya Re chief blames his job loss on chairman ouster bid
https://www.nation.co.ke...3464-8728ldz/index.html[/quote]

Dirty games being played.
The chairman wont survive the AGM now that he doesn't have support of Kinyua and in extension gava

1) Kemei would not have moved against Mwarania if not for the support of Rotich and by extension Godfather #1.

2) Q: Who votes for GoK in this scenario?
A: The National Treasury of Kenya owns 420mn (60%) of the shares in KenRe. Who heads Treasury? Cabinet Secretary The National Treasury - Henry Rotich

3) There are 11 directors including Mwarania. Since can't vote on his own extension/job that means there are 10 directors.

3 are against him [Kemei, Maina Mukoma and Chiboli Shakaba]
#4 is Rotich
#5 is possibly Ng'atuny

And the Chairman probably gets a tie-breaking vote.
The Game is Over. [Of course, I would rather have Mwarania back but he should stay out of the politics and stick to managing the firm]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Friday, March 16, 2018 7:03 AM | Reason: Not specified
Ericsson
#75 Posted : Friday, March 16, 2018 7:26:05 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
[quote=VituVingiSana]Sacked Kenya Re chief blames his job loss on chairman ouster bid
https://www.nation.co.ke...3464-8728ldz/index.html[/quote]

Dirty games being played.
The chairman wont survive the AGM now that he doesn't have support of Kinyua and in extension gava

1) Kemei would not have moved against Mwarania if not for the support of Rotich and by extension Godfather #1.

2) Q: Who votes for GoK in this scenario?
A: The National Treasury of Kenya owns 420mn (60%) of the shares in KenRe. Who heads Treasury? Cabinet Secretary The National Treasury - Henry Rotich

3) There are 11 directors including Mwarania. Since can't vote on his own extension/job that means there are 10 directors.

3 are against him [Kemei, Maina Mukoma and Chiboli Shakaba]
#4 is Rotich
#5 is possibly Ng'atuny

And the Chairman probably gets a tie-breaking vote.
The Game is Over. [Of course, I would rather have Mwarania back but he should stay out of the politics and stick to managing the firm]


@vvs
Kinyua wouldn't have made that move without the support of the president.
Rotich receives instructions and reports to the president.Finance ministry is under the president wing/side even though Henry Rotich is CS.
March 20 is on Tuesday
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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  | | Edit by user: Friday, March 16, 2018 7:29 AM | Reason: Not specified
Ebenyo
#76 Posted : Friday, March 16, 2018 7:28:02 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
[quote=VituVingiSana]Sacked Kenya Re chief blames his job loss on chairman ouster bid
https://www.nation.co.ke...3464-8728ldz/index.html[/quote]


This politics will best be settled on this year AGM.
Towards the goal of financial freedom
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Angelica _ann
#77 Posted : Friday, March 16, 2018 12:22:46 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
Ebenyo wrote:
[quote=VituVingiSana]Sacked Kenya Re chief blames his job loss on chairman ouster bid
https://www.nation.co.ke...3464-8728ldz/index.html[/quote]


This politics will best be settled on this year AGM.


Just asking, how do you write to ED/MD/CEO to organzise the removal of Chiar and Board Member(s)/Director(s). I thought this should be done by lobbying in the Board or voting during AGM?
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Ericsson
#78 Posted : Friday, March 16, 2018 12:57:05 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Angelica _ann wrote:
Ebenyo wrote:
[quote=VituVingiSana]Sacked Kenya Re chief blames his job loss on chairman ouster bid
https://www.nation.co.ke...3464-8728ldz/index.html[/quote]


This politics will best be settled on this year AGM.


Just asking, how do you write to ED/MD/CEO to organzise the removal of Chiar and Board Member(s)/Director(s). I thought this should be done by lobbying in the Board or voting during AGM?


The MD is the secretary of the board.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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  | | Edit by user: Friday, March 16, 2018 12:58 PM | Reason: Not specified
VituVingiSana
#79 Posted : Friday, March 16, 2018 4:01:58 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
1) If Kinyua told Mwarania to arrange to replace Kemei, then why go after Mwarania and not Kinyua?
2) If the replacement was to be done on 16th June 2017, during the AGM, then why weren't they (Kemei, Mukoma, Shakaba] replaced? [Didn't GoK vote for them?]
3) Don't the 3 [Kemei, Mukoma, Shakaba] have another 3-year term from 2017?
4) Did Rotich out-manuever Kinyua?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#80 Posted : Friday, March 16, 2018 11:07:43 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
[quote=VituVingiSana]1) If Kinyua told Mwarania to arrange to replace Kemei, then why go after Mwarania and not Kinyua?--Touching Kinyua is getting into the bad books of the president,he can't dare.

2) If the replacement was to be done on 16th June 2017, during the AGM, then why weren't they (Kemei, Mukoma, Shakaba] replaced? [Didn't GoK vote for them?]--Their term is coming to an end in 2018 not 2017.

3) Don't the 3 [Kemei, Mukoma, Shakaba] have another 3-year term from 2017?--[color=red]It's from 2018.The previous chairperson Nelly Kariuki retired in 2015 when Kemei's term started.

https://www.nation.co.ke...9528-qsypxfz/index.html

4) Did Rotich out-manuever Kinyua?--I am not privy to information if Rotich was involved in this fiasco.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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  | | Edit by user: Friday, March 16, 2018 11:14 PM | Reason: Not specified
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