14th Jul 2020 17:54
(Alliance News) - TBC Bank Group PLC said Tuesday Deputy Chief Executive & Chief Financial Officer Giorgi Shagidze will leave the lender at the end of 2020.
The Georgian bank will begin a search for Shagidze's replacement.
"Giorgi will continue as CFO, and as an executive director, until the year end in order to ensure an orderly transition to his successor. It is expected that further announcements will be made as to the effective date of his resignation and with details of his replacement later in 2020," TBC said.
The bank also noted Shagidze is leaving the bank to "explore other opportunities in a different field and/or geography".
Chief Executive Vakhtang Butskhrikidze said: "Giorgi Shagidze has been with TBC since 2010 and has been a key member of our management team. His commitment has been crucial in helping to drive the continued success of the group throughout these years. We wish to thank him for his many contributions in helping to support the success of the group. We are very confident that the transition will go very smoothly and wish him well for the future."
Shares in TBC Bank closed 0.1% higher in London on Tuesday at 880.00 pence each.
By Paul McGowan; [email protected]
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