Change in the composition of the Board of Directors
XacBank announces that Mr. Arno de Vette resigned as a non-executive director of the Board of Directors of XacBank with effect from 1 February 2012.
Mr. Arno de Vette served on the Board of Directors of XacBank since January 2011. He worked as senior investment officer at Triodos Bank in the Netherlands since 2009 with a focus on clients in the financial sector, both debt and equity, in Asia.
During his service on the Board of Directors, Mr. Arno de Vette dedicated his professionalism and efforts to defining the growth strategies and strengthening further the position of XacBank in the banking industry of Mongolia.
Mr. Arno de Vette resigned from the Board of Directors of XacBank due to his new position with FMO – the Dutch Development Bank.
XacBank and the Board of Directors would like to thank Mr. Arno de Vette for his genuine dedication and interest in the success of XacBank and wish him success in his future endeavors with FMO.
As of the date of this announcement, the Board of Directors of XacBank consists of Mr. Ganbold Chuluun, being the chairman, Mr. Bat-Ochir Dugersuren, being the executive director, and Mr. Bold Magvan, Mr. Arvid Tuerkner, Ms. Erdenejargal Perenlei, Mr. Michael Madden, Mr. Richard Ranken and Ms. Sarah Djari, being the non-executive directors.
