Eco bank Transnational Incorporated(ETI) has appointed Mr. Albert Essien as the Group Chief Executive Officer of the bank with immediate effect; he replaces Mr. Thierry Tanoh as the CEO of the bank. Before this new appointment, Essien was the bank's Deputy CEO/ Group Executive Director for Corporate and Investment, replaces Mr. Thierry Tanoh as the CEO of the bank.This announcement, which was made known in a statement yesterday, also stated that the outgoing CEO would no longer be a Director of ETI. The statement added that Essien had been at Ecobank for over 20 years, rising to the position of Deputy Group CEO in 2012.
According to Bloomberg, "The lender's largest shareholder, South Africa's Public Investment Corp., had called for Tanoh to quit after allegations of mismanagement, which he denies. The board met in Cameroon's capital, Yaounde, after an extraordinary general meeting last week in Lome. Shareholders decided to keep the 12-member board and approved a plan to improve corporate governance following recommendations by Nigeria's Securities and Exchange Commission"
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