TBILISI - Bank of Georgia Group PLC has announced the approval by the Central Bank of Armenia of new appointments to the supervisory board of its Armenian subsidiary, Ameriabank. The changes bring in three high-level executives from the Group to further strengthen the governance of the bank.
The new appointees to Ameriabank's Board of Directors are Archil Gachechiladze, the Group's Executive Director; Tamaz Georgadze, a Non-executive Director; and Sulkhan Gvalia, the Group's Chief Financial Officer. Their roles extend to participation in various committees within the bank, aimed at enhancing oversight in areas such as risk, audit, corporate governance, and remuneration.
Ameriabank's board now comprises seven members, with the new additions joining existing board members Andrew Mkrtchyan, Robert von Rekowsky, Richard Ogdon, and Tigran Davtyan.
Bank of Georgia Group PLC, listed on the London Stock Exchange (LON:LSEG) as a FTSE 250 company, operates as a holding entity with a focus on the Georgian and Armenian banking sectors through its subsidiaries. It aims to deliver strong returns and sustainable profitability by capitalizing on the growth potential of the markets it serves.
The Group has emphasized its commitment to contributing positively to the communities where it operates and to creating value for its stakeholders.
This management move is part of the Group's ongoing strategy to ensure robust corporate governance and effective oversight across its operations. The appointments are in line with regulatory requirements and reflect the Group's dedication to maintaining high standards of leadership and accountability.
The information regarding these board changes is based on a press release statement from the Bank of Georgia Group PLC.
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