Republic Bank (Ghana) PLC announces the retirement of three esteemed Board of Directors.

Republic Bank (Ghana) PLC announces the retirement of three esteemed Board of Directors.

Accra, Thursday, 4th July 2024 – Republic Bank (Ghana) PLC announced the retirement of three esteemed Directors from its Board of Directors having served the full tenure of nine (9) years in accordance with the Bank of Ghana Corporate Governance Directive 2018. These distinguished Board Members played significant roles in guiding the Bank through crucial times, providing valuable insights, and ensuring the stability and growth of Republic Bank (Ghana) PLC.

The retiring Directors are:
Mr. Charles William Zwennes, the immediate past Board Chairman was appointed to the Republic Bank (Ghana) PLC board on April 1, 2015. Mr. Zwennes has been instrumental in shaping the bank’s strategic direction during his tenure. He took over the chairmanship at a critical time in the Bank’s history and was pivotal in the transition from HFC Bank to Republic Bank. His leadership, dedication, and deep understanding of corporate governance and the banking industry have contributed to Republic Bank’s growth and success. Under his leadership, the Bank has achieved significant milestones, strengthening its position in the banking sector.

Mr. Paul King Aryene has served on the Republic Bank (Ghana) PLC board since 23rd April 2015. He was at the time of his retirement the chairman of the Enterprise Risk Committee and the Cyber and Information Security Committees. He also served on the Audit Committee and at one time also chaired the Remuneration and Nominations Committee of the Board. He played several roles in shaping employee compensation and benefits programs. He has also been at the forefront of ensuring financial integrity and accountability as the Chairman of the Board of HFC Realty Company Limited. His diligence and attention to detail have set a high standard for auditing, information, and cyber security practices in the Bank. As the Board Member responsible for relations with the Minority Shareholders of the Bank, Mr. Aryene ensured openness and fairness for all stakeholders.

Mr. Ebenezer Tetteh Tagoe has been an integral part of the Republic Bank (Ghana) PLC and Republic Investments (Ghana) LTD boards, contributing his strategic vision to various sub-committees of both Boards. He served as the Chairman of the Audit Sub Committee and has been instrumental in developing and implementing key strategic initiatives, contributing to effective and efficient internal control processes of the Bank. Since his appointment on 23rd April 2015, he has been dedicated to executing his responsibilities on the Board. His expertise in financial matters and commitment to governance have been invaluable to the Bank’s operations. We appreciate Mr. Tetteh Tagoe’s contribution to fostering a positive workplace culture.

Commenting on the retirement of the three Directors, Mr. David Addo-Ashong, Ag. Board Chairman of Republic Bank (Ghana) PLC, said: “We are deeply grateful to Mr. Charles William Zwennes, Mr. Paul King Aryene, and Mr. Ebenezer Tetteh Tagoe for their years of dedicated service and commitment to our Bank. Their leadership and guidance have helped us navigate through significant challenges and several growth opportunities. We wish them the best in their future endeavours and thank them for their commitment to Republic Bank’s mission and values.”