CalBank refutes claims of dismissing director
CalBank says it has not dismissed any of its director’s contrary to some media reports. According to the bank, recent changes on its board stems from the conclusion of directorship terms as part of the bank’s statutory and regulatory governance cycle. A statement issued by the CalBank on Monday (30 September), said bank is preparing … The post CalBank refutes claims of dismissing director appeared first on Asaase Radio.
CalBank says it has not dismissed any of its director’s contrary to some media reports.
According to the bank, recent changes on its board stems from the conclusion of directorship terms as part of the bank’s statutory and regulatory governance cycle.
A statement issued by the CalBank on Monday (30 September), said bank is preparing for an Extraordinary General Meeting (EGM), where new directors will be appointed to restore the full complement of the Board, in line with governance standards and regulation
‘’In light of recent reports, including an article by The High Street Journal titled “CalBank Fires Significant Number of Top Executives & Non-Executive Directors Amid Efforts to Correct Previous Impairments,” CalBank PLC seeks to clarify the facts surrounding recent executive and Board changes and to highlight the bank’s ongoing transformation and positive performance.
‘’No director of the bank has been dismissed. Recent changes on the Board stem from the conclusion of directorship terms as part of the bank’s statutory and regulatory governance cycle.’’
‘’ Three independent, non-executive directors of the bank were due to retire by statutory rotation at the bank’s 2024 annual general meeting (AGM) held on September 4, 2024, Mr. Ben Barth, Dr. Cynthia Forson and Mr. Richard Arkutu. Mr. Barth did not seek renomination when his tenure expired, while the terms of Dr Forson and Mr. Arkutu concluded at the AGM,’’ the statement said.
Below is the full statement:
PR-308-CALBANK-PLC-CLARIFIES-RECENT-EXECUTIVE-AND-BOARD-CHANGES-AMID-RESTRUCTURING-EFFORTS2
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The post CalBank refutes claims of dismissing director appeared first on Asaase Radio.
