Zenith Bank has announced that its founder and Group Chairman, Jim Ovia, has retired after completing his term in office.
The development was announced on Tuesday during the bank’s 35th Annual General Meeting.
According to the bank, Ovia’s exit follows the completion of the required 12-year limit for non-executive directors and chairmen, in line with corporate governance rules set by the Central Bank of Nigeria (CBN).
Jim Ovia assumed the role of chairman on July 16, 2014, returning to the position after earlier leading the bank as its founder and Group Managing Director/Chief Executive Officer from 1990 to 2010.
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