Ann: Management Update, page-11

Substantively, I agree with you, but it's interesting to note that although appointed as acting CEO, Jaja has not been appointed to the board as a director (MD, by its definition, is a director's role, whereas CEO is not necessarily and there is no mention of any such appointment in the announcement). In my view, this is a positive. It does smack of increasing commitment to the CBA program as the primary focus of the firm, but also implies that the board will retain its independence and therefore have more freedom to strategically pursue opportunities other than CBA. All IMO