Fidelity Bank Announces Board Retirements, New Appointments

Fidelity Bank Plc has made new board ap­pointments in place of some of its outgo­ing directors, who recently completed their tenure on the board in accordance with the bank’s internal governance policies.

Mrs. Aku Odinkemelu, Executive Director, South Di­rectorate, who was appointed to the board on August 4, 2014, will be retiring by December 31, 2020.

As Executive Director, Aku played a defining role as a member of the transfor­mation team in Fidelity Bank over the last 6 plus years. Her responsibilities covered the Commercial, SME, Consumer and Public Sector businesses of Fidelity Bank in the South East and South-South regions and she provided leadership for 90 business offices within the 11 states under her pur­view, with her directorate ac­counting for 31% of deposits, and 21% of loans. In addition, the South Directorate under her supervision generated the highest PBT in the bank over the last 5 years, 2015 – 2019, contributing over 23% of the total bank’s profit over the period.

Chief Charles Umolu, Non-Executive Director, com­pleted his tenure and retired from the board on December 16, 2020. He served on the Board Risk, Credit, Finance & General Purpose, Audit and Corporate Governance Committees and chaired the Board Credit Committee until he retired.

Mr. Michael Okeke, also a Non-Executive Director, suc­cessfully completed his tenure and retired on December 18, 2020. He was a member of various Board Committees including the Board Corpo­rate Governance Committee, which he chaired from Octo­ber 2018 to December 2019.

Another Non-Executive Director, Mr. Alex Ojukwu, will complete his tenure and retire by December 31, 2020. He currently serves on the Board Credit, Risk, Audit and Corporate Governance Com­mittees and chairs the Board Risk Committee.

The board expresses its profound appreciation to the outgoing Executive and Non-Executive Directors for their impressive contribu­tions to the growth and devel­opment of the bank.

“Fidelity Bank is privi­leged to have benefited from the combined experience and expertise of these very accom­plished lady and gentlemen. We thank them for their ser­vice to the bank and wish them the very best in their future endeavours”, said Mr. Mustafa Chike-Obi, Chair­man, Fidelity Bank.

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