GTBank Appoints 4 New Directors, 4 Others Retire

Guaranty Trust Bank Plc has demonstrated its commitment to the sustenance of good corporate governance with the appointment of four new directors to its Board following the retirement of 4 current directors.
The institution has appointed Messrs Ibrahim Hassan, Olabode Agusto, Mrs. Stella Okoli (MON) and Engr. Adebayo Adeola as Non-Executive Directors. 
Until their appointments, the four new directors have distinguished themselves in various fields of human endeavor making significant contributions to the growth of the national economy.
Mrs. Stella Okoli OON, is founder and CEO of Emzor Pharmaceutical Industries Limited. A seasoned industrialist, she obtained her M.Sc. in Biopharmaceuticals from University of London Chelsea College in 1971 before setting up Emzor Chemists Limited in 1984 and successfully guiding it to become one of Nigeria’s leading Pharmaceutical Manufacturing Industry. She has attended numerous management courses at Harvard Business School, Insead France, IES Barcelona, Singapore Institute of Management and the Lagos Business School and, is currently the National Vice-President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture. She holds the National honour of Officer of the Order of the Niger (OON).
Mr. Ibrahim Hassan is a Petroleum Geologist and Entrepreneur with Masters in Oil and Gas Enterprise management. He is the Managing Director and CEO of Summit Energy Limited.
Engineer Adebayo Adeola holds Bachelors and Masters degrees in Engineering and brings to the Board, over 34 years experience in Engineering and Project Management at the highest levels. He is the founder and pioneer Managing Director of Comprehensive Project Management Services Ltd, a firm of project managers.
Similarly, Mr. Olabode Agusto brings to the Board of Guaranty Trust Bank, a wealth of experience that cuts across both the public and private sectors. A seasoned accountant, his experience of over 30 years spans various organizations including Price WaterHouse, Nigeria International Bank, Agusto & Co. Ltd whilst he also held various public positions including Director of the National Pension Commission, Member of the Central Bank of Nigeria Monetary Policy Committee and Director–General of the Budget Office of the Federation. He holds the National honour of Member of the Order of the Federal Republic (MFR).
These appointments come pursuant to the decision of the Guaranty Trust Bank Board to peg the tenure of Non-Executive Directors at 12 years in line with the Central Bank of Nigeria’s Code of Corporate Governance. This has seen 3 Non-Executive Directors, Messrs Victor Osibodu, Tokunbo Adesanya and Alhaji M. K. Jada resign from the Board. The current Chairman of the Board, Owelle G.P.O Chikelu, who has also served over 12 years on the Board, will however be retiring after the Annual General Meeting of the Bank, which is scheduled to hold on May 5, 2010. A new Chairman of the Board will be announced thereafter by the Bank.
With over 160 business offices in Nigeria and banking subsidiaries in Ghana, Sierra Leone, Gambia and the United Kingdom, Guaranty Trust Bank has over the years maintained a preeminent position as a major player in the Nigerian financial service industry through its consistent remarkable achievements. Among these achievements is its emergence as the first Nigerian bank to receive the International Standard Organization (ISO) 9001:2000 award of the Standards Organization of Nigeria (SON) in recognition of its quality management system and conformity with global best practice.