POWER SHIFT! Diamond Bank CEO May Be Stepping Down In 2019
So, Diamond is going through a period of internal restructuring that has seen the resignation of at least four of its directors.
This process would also likely culminate in the resignation of its managing director/chief executive officer, Uzoma Dozie in 2019, according to a Thisday newspaper report, citing undisclosed sources.
According to the report, the four directors had to step aside ahead of fresh investment coming into Diamond Bank Plc, to pave way for the new investors to nominate their representatives to serve on the bank’s board.
One of the directors who resigned includes the bank’s chairman, Seyi Bickersteth, who said in his resignation letter that “it has been an honour to serve on the board of the bank as chairman, and I will continue to support the bank in every way possible”.
Other directors who resigned are, Ms. Aisha Oyebode, Mr. Rotimi Oyekanmi and Ms. Juliet Anammah.
Diamond Bank, one of Nigeria’s retail banking champions, had recently faced headwinds with profitability as it faced challenges with its lending to indigenous oil sector, following the collapse of oil prices.
But with the oil price rebound, things are beginning to look better.
However, the bank, according to analysts, is in dire need of new capital to fuel growth and profitability. It is thought that the new investors are in global financial services and are said to be ready to wake up the sleeping giant.
According to sources, talks may have reached an advanced stage with the resignation of the four directors.
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