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Jim Ovia retires as Zenith Bank chairman, Mustafa Bello assumes position
Founder and group chairman of Zenith Bank Jim Ovia has retired from his chairmanship position, following the expiration of his tenure.
This was made known on Tuesday during the bank’s ongoing 35th Annual General Meeting, and also disclosed via a statement.
Having completed the mandatory 12 years as a non-executive director and chairman, Ovia stepped down, in line with Central Bank’s corporate governance guidelines.
The bank appreciated his years of service, while describing his leadership as visionary.
“The board expresses its deep appreciation to Mr. Jim Ovia for his outstanding service and invaluable contributions.
“His visionary leadership, unwavering commitment to good governance, and dedication to stakeholder value creation, significantly strengthened the group’s strategic positioning and reputation during his tenure.
“He has extensive leadership experience at Board and executive levels, a strong understanding of corporate governance principles and regulatory expectations and a proven track record in strategic oversight and organisational growth. He has also demonstrated integrity, independence, and sound judgment,” the bank said in a statement.
Ovia who served as the bank’s founder and Group Managing Director/CEO from 1990 to 2010, assumed his chairmanship role on July 16, 2014.
Following his retirement, the board approved the appointment of Mustafa Bello as the new chairman.
Bello, a professional engineer, who is currently the bank’s longest-serving director, joined the board on December 29, 2017.
