Family Bank’s former chief executive officer, Peter Munyiri Maina, has been awarded Sh30.6 million by the Court of Appeal in the form of gratuity payments following a protracted legal battle with his former employer, though he had sought a larger payout of Sh57 million.
While the amount falls short of his claim, the judgment provides clarity on executive compensation disputes in Kenya’s banking sector and reinforces the binding nature of contractual terms.
