REG - Commercial Int Bank - Changes to the Board of Directors

Commercial International Bank Egypt CIBAnnouncement

28/05/2025 18:00

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RNS Number : 4618K  Commercial Intnl Bank (Egypt) SAE  28 May 2025

RELEASE

 

CAIRO 28 May 2025

Commercial International Bank (Egypt)- CIB and its Board would like to
announce changes to the structure of its Board of Directors. With both Mr.
Paresh Sukthankar and Mr. Rajeev Kakar concluding their terms on the Board.
The Board of Directors would like to extend their sincere gratitude to Mr.
Sukthankar and Mr. Kakar for their valuable contributions and distinguished
service to CIB's long-term success during their tenor. CIB and its Board
acknowledges their service with deep appreciation and wishes them continued
success in their future endeavors.

The Board is also pleased to announce the appointment of Mr. Burkhard Eckes
and Mr. George Anagnostopoulos as independent non-executive directors of the
Board, having obtained the approval of the Central Bank of Egypt (CBE).

Mr. Eckes started his career in 1986 with PricewaterhouseCoopers (PwC) before
becoming a partner from 1996 till 2022. Mr. Eckes became a senior advisor of
PwC Germany in 2022 and retired from PwC in 2023, and has since been serving
as Board and committee member in several companies; he is Vice Chair of the
Audit Committee, Member of the Nomination and Corporate Governance Committee
of Eurobank S.A. in Athens, and Member of the Supervisory Board and Chairman
of the Audit and Risks Committee of Bank Pictet & Cie (Europe) AG in
Germany. Mr. Eckes is also a Member of the Supervisory Board and Chairman of
the Risk and Audit Committee of Solaris SE in Germany, and the Chairman of the
Supervisory Board of inexogy Energy Holding KGaA, in Germany.

Mr. Anagnostopoulos brings more than 35 years of experience in Credit and Risk
Management, Corporate and Regulatory Governance, and Digital Transformation,
and his career spanned with reputable international banks across several
countries such as Citibank in Greece, Germany, UK and Italy, Deutsche Bank in
Italy, Standard Chartered in Singapore, Barclays Bank in South Africa Mr.
Anagnostopoulos most recently worked for Danske Bank in Denmark where he rose
through the ranks to assume the responsibility of Senior Advisor to the Group
Chief Risk Officer in 2022. Mr. Anagnostopoulos is currently an External
Advisor on EMEA Risk and Resilience Practice to McKinsey & Company.

We extend our best wishes to the newly appointed members as they embarek on
their journey with CIB. We are confident that they will bring expertise and
valuable insights further enhancing the effectiveness of the Board.  With its
current composition, the Board brings together siginificant diversity, a broad
range of operating experiences and distinguished backgrounds that collectively
support CIB in promoting its long-term success, and delivering sustainable
value to the Bank's stakeholders.

 

END

 

 

Yasmine Hemeda

Head of Investor Relations

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