Zenith Bank Plc has announced the retirement of its founder and Group Chairman, Jim Ovia, following the completion of his tenure.
The development was disclosed on Tuesday at the bank’s 35th Annual General Meeting, where shareholders were informed of the leadership transition.
According to the bank, Ovia stepped down after serving the maximum 12 years permitted as a non-executive director and chairman, in line with corporate governance guidelines set by the Central Bank of Nigeria.
Ovia assumed the role of chairman on July 16, 2014, marking his return to the position after previously leading the institution as its founder and Group Managing Director/Chief Executive Officer from 1990 to 2010.
Further details are expected to be announced later.