By The management of Guaranty Trust Bank Plc, yesterday confirmed it had fully concluded the process that integrates all of the bank’s Executive Directors.
This development comes amidst rumors of rift between the board and management of the bank over its succession process.
The outgoing Managing Director and Chief Executive Officer of the bank, Segun Agbaje, had confirmed the commencement of the succession process, during the Guaranty Trust Bank Plc Half Year 2020 Investors/Analysts Call held last year September.
Agbaje also confirmed that the ongoing Corporate Reorganisation has been ratified by shareholders at the Court-Ordered Meeting of the holders of the fully paid ordinary shares.
He noted that in order to maintain optimum operational efficiency, there will be a Holding Company Board of Directors made up of seven members and a Bank Board of Directors with eight members.
“The members of Boards of Directors will be announced along with all other details of ongoing corporate reorganisation as soon as all regulatory approvals have been obtained.
“We remain committed to providing best-in-class customer experience to all our valued customers and consistent high-quality returns to all our esteemed shareholders.” the managment said
Meanwhile, the bank has said it is still engaging with the Central Bank of Nigeria (CBN) and Nigerian Exchange Group (NGX) on the new way forward for the bank.
According to a filing obtained from the NGX’s website, the bank has expressed concern over some news items in the media space about imminent changes on the Board and Management of the bank.
It explained that as an organisation listed on the NGX and regulated by the CBN, there are processes that should guide board changes or channels of communication on such changes as required by regulation.
