GTBank Announces Retirement of Two Executive Directors

Guaranty Trust Bank (GTBank) has informed the Nigerian Stock Exchange (NSE) of the retirement of two of its Executive Directors, Wale Oyedeji and Olutola Omotola.

Wale Oyedeji joined GTBank in 1994 and was appointed Executive Director on October 9, 2011. Olutola Omotola joined the bank in 2006, and was also appointed Executive Director on the same date.

Olutola Omotola was the Head of Corporate Services at the bank, while Wale Oyedeji was the Head of Corporate Banking.

The bank also disclosed that their retirement would take effect on August 11, 2018.

The notice appears to be a fire brigade response to a Nairametrics report concerning the resignation of the two affected directors.  The report also made mention of the affected directors being at the short end of a boardroom tussle.

While not compulsory, GTBank gave no reasons behind the planned resignation of the Executive Directors.

The bank also made no mention of when their replacements would be appointed, nor deny a possible appointment of the current Head of Wholesale Banking Division and General Manager at the bank, Miriam Olusanya, as an Executive Director.

GTBank closed at N41.90 in yesterday’s trading session, down 0.24%. Year-to-date, the stock is up 2.82%