As GTBank’s AGM holds, Board confirms chairman’s appoinment

Guaranty Trust Bank Plc has confirmed the date and venue for its 23rd Annual General Meeting at which the Bank’s 2012 financial results will be presented to its shareholders.
The results, which were approved earlier this month by the Central Bank of Nigeria and released to operators of the Nigerian Stock Exchange, reported a Profit Before Tax of N103 billion, the highest for any Nigerian bank.
According to information from the Bank, its 23rd Annual General Meeting would take place on April 25, 2013 at Zinnia Hall, Eko Hotel and Suites, Lagos by 10am.
The Meeting’s agenda would include receipt of the audited financial statement for 2012, declaration of dividend and election of directors and members of the Bank’s audit committee.
In addition to this, the new Chairman of the Board, Egbert Imomoh, would be presented to shareholders.
Imomoh is to replace the incumbent, Oluwole Oduyemi, who is retiring from the Board in compliance with the Bank’s code of corporate governance, which stipulates a retirement age of 70 years for Non-Executive Directors of the Bank.
Commenting on the development, Segun Agbaje, the Chief Executive Officer of Guaranty Trust Bank Plc, said the Bank maintains high corporate governance standards and has a defined succession strategy to address board and management vacancies.
Agbaje confirmed that Oduyemi had attained the retirement age of 70 years and would be stepping down as a director at the forthcoming Annual General Meeting.
According to Agbaje, the Bank had informed the Nigerian Stock Exchange and other regulators about the impending retirement.
Oduyemi was appointed as the 4th Chairman of the Board of Guaranty Trust Bank Plc in 2010 and under his leadership the Bank went on to further cement its position as one of the most profitable, best run and ethical financial institutions in Nigeria.
When asked about the outgoing chairman’s repla