Guaranty Trust Bank (GTBank) has spoken about its succession plans in the wake of the retirement of Segun Agbaje as MD/CEO of the Bank.
The bank, in a statement signed by its Company Secretary, Erhi Obebeduo, noted that it was engaging with regulators on the matter.
The statement read: “The attention of Guaranty Trust Bank plc (the Bank) has been drawn to news circulating in the media about imminent changes on the Board and Management of the Bank.
“As an organization listed on the Nigerian Exchange Limited and regulated by the Central Bank of Nigeria, there are processes that guide such Board changes and channels of communication of such changes as required by regulation.
“The Board of the Bank has approved certain changes in its constitution and is presently engaging its primary regulator on same and would formally communicate upon the conclusion of all required regulatory engagements.”
Meanwhile, Techeconomy.ng previously reported that GTBank said it would be concluding the process for selecting a new MD/CEO by the fourth quarter of 2020.
Agbaje who made this known on Monday, September 7, said he had served the bank as the managing director for 10 years and his term ends this year.
Providing an update into the bank’s succession plans at an investor earnings call session on Monday, Agbaje said, “What we are looking for now is a Managing Director for Guaranty Trust Bank Nigeria.
“The process has started, we have 5 executive directors and so all of them are going through the process at the moment.
“We are working with a consulting firm in the UK where we are looking for based upon what we see for the Nigeria business, what we think the future will hold.
“What we think Nigerian Banking will look like, we will then at the end of this process which will end at the beginning of the fourth quarter, we will then have a Managing Director for GT Bank Nigeria.