Saturday, November 27, 2004

Kenya Airways Cacophonic AGM

The writer is quite generous in his assesment of the meeting which was well organized by the Airline.To quote Kiraitu "the level of dialogue was very low".

80% of the questions I saw were personal and nonsensical, with shareholders asking for among other things bonus shares, extra dividends, jobs for their kids, hotel accomodation, free flights and bus fare to go home after the meeting. One shareholder advised management to stop buying big expensive planes and give more dividends instead. ha?! Intelligent answers by management sailed over teh heads of most of the crowd.

Meanwhile there was a mini-stampede outside as shareholders who came late queued to receive gift bags which had got finished earlier in the morning. what was inside? a t-shirt and key ring.

I predict that next year, KQ will hold the meeting as far away as it can from Nairobi - possibly in Tanzania or Uganda, where Kenya Airways shares are listed.

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