Top management team diversity and performance of major Commercial Banks in Kenya

Abstract

The purpose of this study was to examine the top management team diversity and performance of major commercial banks in Kenya. The study sought to find out how top management team diversity and specifically age, gender, education level, professional qualifications, tenure in the bank service and tenure in the current role of the TMT influence financial performance of the major banks in Kenya. The study used descriptive and explanatory research designs. A sample of 5 banks from a population of 6 major banks was studied. The study used questionnaires and financial statements which were reviewed to answer the research questions. This study is important to banks, regulators, customers, employees, creditors and academicians. There were challenges encountered in obtaining all the samples due to the seniority of the respondents. Many were too busy and had to take time to give the necessary feedback. Respondents from one bank did not submit back the questionnaire hence this one is omitted from the discussion. This kind of research requires ample time to collect the required data since the respondents are specific