ANNOUNCEMENT
XacBank announces of the following changes in the composition of its Board of Directors.
Resignations:
- Sabina Dziurman resigned as a non-executive director of the Board of Directors of XacBank with effect from 15 October 2015. Ms. Sabina Dziurman, Senior Banker with the Financial Institutions team of the European Bank for Reconstruction and Development (EBRD), has served on the Board of Directors of XacBank since June 2013. Ms. Dziurman resigned from the Board of Directors of XacBank due to her new appointment as EBRD Director for Greece and Cyprus based in Athens.
- Shuji Irie resigned as a non-executive director of the Board of Directors of XacBank with effect from 9 December 2015. Mr. Irie, Executive Officer and Head of Investment and Operation Headquarters of ORIX Corporation, Japan has served on the Board of Directors of XacBank since September 2013. Mr. Irie resigned from the Board of Directors of XacBank due to his assignment to new projects within ORIX with wider responsibilities.
XacBank and the Board of Directors would like to thank again Ms Sabina Dziurman and Mr. Shuji Irie for their leadership and dedicated service on the board and valuable contributions to the success of XacBank.
Appointments:
- Yoshiaki Matsuoka was appointed as an interim non-executive director on the Board of Directors of XacBank with effect from 9 December 2015. Mr. Matsuoka is Managing Director of the Global Business Development and Investment Group with the Investment and Operation Headquarters of ORIX Corporation. The appointment of Mr. Matsuoka is subject to final consideration and consideration at the next annual general meeting of the shareholders of XacBank.
As of the date of this announcement, the Board of Directors of XacBank consists of Mr. Ganbold Chuluun, being the chairman, Mr. Bold Magvan, being the executive director, Ms. Tselmuun Nyamtaishir, Mr. Richard Ranken, Mr. Yoshiaki Matsuoka, Mr. Michael Madden and Mr. Batsaikhan Baatar, being the non-executive directors, and Mr. James Stent, Mr. Peter Morrow and Mr. Ulambayar Bayansan, being the independent non-executive directors.
20 January 2016
XacBank
