Jim Ovia retires as Zenith Bank chairman
Jim Ovia has retired as chairman of Zenith Bank following the expiration of his tenure. The announcement was made on Tuesday during the bank’s ongoing 35th Annual General Meeting and
Jim Ovia has retired as chairman of Zenith Bank following the expiration of his tenure.
The announcement was made on Tuesday during the bank’s ongoing 35th Annual General Meeting and was also confirmed in a statement issued by the lender.
According to the bank, Ovia stepped down after completing the mandatory 12 years as a non-executive director and chairman, in line with corporate governance guidelines set by the Central Bank of Nigeria.
Ovia assumed the role of chairman on July 16, 2014, returning after previously serving as the bank’s founder and Group Managing Director/Chief Executive Officer from 1990 to 2010.
Zenith Bank described his tenure as one defined by strong leadership, strategic direction, and effective board oversight.
“The board expresses its deep appreciation to Mr Jim Ovia for his outstanding service and invaluable contributions.
“His visionary leadership, unwavering commitment to good governance, and dedication to stakeholder value creation significantly strengthened the group’s strategic positioning and reputation during his tenure.
“He has extensive leadership experience at Board and executive levels, a strong understanding of corporate governance principles and regulatory expectations and a proven track record in strategic oversight and organisational growth. He has also demonstrated integrity, independence, and sound judgment,” the statement read.
The bank also disclosed that the board approved the appointment of Mustafa Bello as the new chairman at a meeting held on April 27 to ensure continuity.
According to the statement, Bello, an engineer who joined the board on December 29, 2017, is currently the bank’s longest-serving director.
Zenith Bank added that Bello’s appointment is expected to ensure continuity, stability, and sustained high standards of governance, while facilitating a seamless leadership transition.
