Changes in CIB's Board of Dir

RNS Number : 3195H

Commercial Intnl Bank (Egypt) SAE

17 February 2010

 



Changes in Commercial International Bank (CIB)-Egypt Board of Director's Structure

Cairo, February 17^th, 2010.

Due to personal commitments and corresponding time constraints, Mr. Robert Willumstad has reluctantly opted to step down from his role as a non-executive member on CIB board of directors. Fortunately, Mr. Willumstad has kindly accepted to continue providing his expertise as a "Senior Advisor" to the board, as well as a member in the Risk and Governance and Compensation committees.

We believe Mr. Willumstad's wealth of knowledge and immense global banking experience will continue to add much value in budgeting, business planning and strategies articulation.

In consultation with our strategic partner Actis, the Governance and Compensation committee will nominate a new board member with international expertise to complement CIB's already renowned board members.

 

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