Access Bank Plc Announces the Retirement of Mr. Oritsedere Samuel Otubu as a Non-Executive Director

Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp

Thursday, September 08, 2016 4.02pm/ NSE

The Board of Directors of Access Bank Plc hereby announces the retirement of Mr. Oritsedere Samuel Otubu as a Non-Executive Director of the company with effect from September 1, 2016. This follows his completion of a maximum term of 12-year term on the Board as allowed by the Central Bank of Nigeria’s Code of Corporate Governance for Banks.

Mr Otubu has confirmed that he has no disagreement with the board and there is no matter relating to his retirement that needs to be brought to the attention of the shareholders of the company or the regulatory authorities. The Board would like to express its appreciation to Mr Otubu for his contribution and services to the company.

The Central Bank of Nigeria and the Securities and Exchange Commission’s Code of Corporate Governance require the Board of Directors of regulated companies to have more Non-Executive Directors than Executive Directors subject to stipulated maximum size of boards. With the retirement of Mr Otubu, the company now has 14 directors comprising equal numbers of Executive and Non-Executive Directors.

The Board is identifying right candidates to fill the resultant vacancies as soon as practicable and further announcement will be made in this regard in due course.

Related News

1.       Access Bank Reiterating Outperform Rating After Strong Q2’16 Results

2.      ACCESS BANK Half-Year Earnings Presentation: The key takeaways

3.      Access Bank Plc Impressive Earnings Beat Estimates, PAT Up by 26% YoY

4.      Access Bank NPLs to Total Gross Loans Stand at 1.9% in H1'16 As Against 1.7% in 2015

5.      ACCESS declares N39.49 billion PAT in Q2 2016 Result Proposes 25kobo Interim Dividend SP N5.34k

6.      Inflation Rate to Accelerate to 17.2 in July 2016 - Access Bank

7.      Access Bank Plc to Submit Half Year Audited Financials Not Later Than 31st August 2016

8.     Access Bank anticipates the MPC will retain the existing FX policy regime

9.      Inflation to Moderate Downwards to 15.4% in June 2016 - Access Bank Plc

10.  Access Bank anticipates the MPC will retain the existing FX policy regime 

Related News