Zenith Bank has announced that Jim Ovia retires as Zenith Bank chairman after completing his tenure.
The announcement was made during the bank’s 35th Annual General Meeting on Tuesday.
Jim Ovia retires as Zenith Bank chairman after serving the maximum 12 years allowed for a non-executive director and chairman under the Central Bank of Nigeria’s corporate governance rules.
Why Jim Ovia retired as Zenith Bank chairman
The bank said Jim Ovia retires as Zenith Bank chairman because his tenure has officially expired.
Ovia became chairman of Zenith Bank on July 16, 2014.
Before returning as chairman, he served as founder and Group Managing Director of the bank from 1990 to 2010.
Zenith Bank said his years as chairman helped strengthen the institution’s strategy and corporate reputation.
Zenith Bank praises Jim Ovia’s leadership
As Jim Ovia retires as Zenith Bank chairman, the board praised his leadership and commitment.
The bank said his service helped improve governance and long-term value for shareholders.
According to Zenith Bank, Ovia provided strategic direction, board oversight, and strong corporate leadership throughout his tenure.
Mustafa Bello named new Zenith Bank chairman
As Jim Ovia retires as Zenith Bank chairman, Zenith Bank has appointed Mustafa Bello as the new chairman.
The appointment was approved at a board meeting held on April 27.
Bello joined the board in December 2017.
He is currently the bank’s longest-serving director.
Zenith Bank said the appointment will ensure stability and a smooth leadership transition.
What Jim Ovia’s retirement means for Zenith Bank
Jim Ovia retires as Zenith Bank chairman at a major moment for the bank.
Zenith Bank said the transition reflects its commitment to strong governance and continuity.
The bank added that it expects the leadership change to support future growth.
