Saturday, May 8, 2010

Commercial Bank of Kuwait - Another Board Resignation?

AlWatan reports that Mr. Abdul Rahman Al Ali, described as a reserve director for CBK (one to take the place of a sitting director in the event of that director's departure) has resigned to take up the position of CBK's board representative at Industrial Bank of Kuwait.  Supposedly Ali Moussa of Securities Group has resigned his seat on IBK's board and will join CBK's board as (initially) a reserve director.

The article ends by saying that there are many scenarios floating around - including that CBK's board will be reorganized or that one of the reserve directors will be appointed Chairman.

If you've been following the comments  on my posts on CBK, then you've seen some comments by readers with apparent better knowledge and appreciation of what's going on than I have.  If you haven't, then you should!

So tonight's invite is for Advocatus, H Al Essa to weigh in again.

This is getting more complicated than "Lost".  Though the nice thing about working in a family company is that there's a job for everyone.  And the family takes care of its own.

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