Stanbic IBTC Holdings PLC has served a letter notifying the Nigerian Stock Exchange and the Investing Public of the resignation of a Non-Executive Director, Sim Tshabalala from its board, which took effect from October 31, 2019.
Sim Tshabalala became a member of the board in 2013 and was involved in several of the bank’s committees. Also, he was the Chairman of the Board of Stanbic IBTC Bank PLC., its wholly-owned subsidiary.
In the signed copy of the letter obtained by BizWatchNigeria, his resignation is to enable him to focus more time and
attention on his current role as Chief Executive of Standard Bank Group.
Boards of Directors of the Company and the Bank acknowledge and expressed their profound gratitude to Mr. Tshabalala for his leadership, service and immense contributions to the Stanbic IBTC Group, while he was a Director on both Boards, and wished him the best as he continues to focus on implementing the Standard Bank Group strategy.