Bank of Georgia Group PLC Directorate Change (6831M)
10 Enero 2019 - 1:00AM
UK Regulatory
TIDMBGEO
RNS Number : 6831M
Bank of Georgia Group PLC
10 January 2019
London, 10 January 2019
Bank of Georgia appoints Archil Gachechiladze as Chief
Executive
The Board of Bank of Georgia Group PLC (the "Group") is pleased
to announce the appointment of Archil Gachechiladze as Chief
Executive of the Group and of JSC Bank of Georgia. He will join the
Group with effect from 28 January 2019 and will become a member of
the Board of Directors of the Group on that day. The appointment of
Archil as a CEO of the Bank is subject to approval and consent from
the Bank's regulator - The National Bank of Georgia. On the same
date, Kaha Kiknavelidze will step down from the Board and the CEO
role.
Archil Gachechiladze joins Bank of Georgia from his current role
as Chief Executive of Georgia Global Utilities. Prior to that role,
Archil worked in a number of senior management positions in Bank of
Georgia, including as Deputy CEO in charge of Corporate Banking,
and as Chief Financial Officer.
Neil Janin, Chairman, commented:
"I am delighted that we are appointing Archil as CEO, after he
thoroughly impressed all Board members during a comprehensive
search conducted by the Board. Archil brings a strong strategic
perspective and has an excellent track record of delivering growth
in the Georgian banking environment. He is an extremely strong
business leader with the experience and drive to take Bank of
Georgia into its next phase, following a period of significant
corporate and regulatory change."
Archil Gachechiladze commented:
"It is a great honour and a privilege to be asked to take on the
role of CEO of Bank of Georgia. The Bank is a great organisation,
with undisputed brand strength and a highly professional and
capable management team that I consider to be unparalleled in
Georgia. There are many opportunities available in the Georgian
financial services sector to develop more digital and modern
financial services throughout Georgia, and I look forward to
working with the management team and colleagues to leverage these
opportunities over the next few years."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
There are no matters which require additional disclosure under
LR 9.6.13R.
Name of authorised official of issuer responsible for making
notification:
Natia Kalandarishvili, Head of Investor Relations and
Funding
About Bank of Georgia Group PLC
Bank of Georgia Group PLC ("Bank of Georgia Group" or the
"Group" - LSE: BGEO LN) is a UK incorporated holding company, which
comprises: a) retail banking and payment services, b) corporate
investment banking and wealth management operations and c) banking
operations in Belarus ("BNB"). JSC Bank of Georgia ("Bank of
Georgia", "BOG" or the "Bank"), the leading universal bank in
Georgia, is the core entity of the Group. The Group targets to
benefit from superior growth of Georgian economy through both its
retail banking and corporate investment banking services and aims
to deliver on its strategy, which is based on at least 20% ROAE and
15%-20% growth of its loan book.
JSC Bank of Georgia has, as of
the date hereof, the following
credit ratings:
Fitch Ratings 'BB-/B'
Moody's 'Ba3/NP' (FC) &
'Ba2/NP' (LC)
For further information, please visit www.bankofgeorgiagroup.com
or contact:
Kaha Kiknavelidze Michael Oliver David Tsiklauri Natia Kalandarishvili
Group CEO Adviser to the Group CFO Head of Investor
CEO Relations
+995 322 444 444
+995 322 444 126 +44 203 178 4034 +995 322 444 108 (9282)
k.kiknavelidze@bog.ge moliver@bgeo.com dtsiklauri@bog.ge ir@bog.ge
This news report is presented for general informational purposes
only and should not be construed as an offer to sell or the
solicitation of an offer to buy any securities
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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