The Managing Director of First Bank Nigeria Limited, Dr. Adesola Adeduntan, has tendered his resignation.
His departure marks the end of his nine-year tenure of supervising the bank’s operations and strategic direction.
This was for a period of three terms.
First Bank is poised to unveil Adeduntan’s successor, who will spearhead the bank’s expansion initiatives amidst fierce competition in the financial sector.
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Checks indicate that Adeduntan, who has held the esteemed position of MD since July 2014 and CEO since 2016, announced his decision to resign immediately, eight months before his tenure expires on December 31, 2024.
He would commence his pre-retirement leave from Saturday, April 20, 2024, the resignation letter noted.
Adeduntan also stated in his resignation letter that he was leaving to pursue other interests.
The resignation letter reads: “As you are aware, my contract would expire on December 31, 2024, after which I would no longer be eligible for employment within the bank having served as the Managing Director/Chief Executive Officer of FirstBank for a record time of nine years.
“During this period, the bank and its subsidiaries have undergone significant transformations and achieved remarkable milestones. We have successfully repositioned the institution as a leading financial powerhouse in Africa. However, I have decided to retire effective from April 20, 2024, to pursue other interests.
“I am eternally grateful to the board of directors of FirstBank and FBN Holdings Plc for the support that I received from them during my stewardship. I wish our iconic institution continued success and progress as we move into the next phase of its evolution. Warm regards.”
THISDAY.