Bismarck Rewane quits FCMB board after 17 years

Renowned Nigerian economist and chief executive of Financial Derivatives Company, Bismarck Rewane has resigned from the board of FCMB Group Plc, TOPNAIJA.NG reports.

Before his resignation, Rewane had been an independent non-executive director of the bank since 2002, and serves on the boards of several blue-chip companies within corporate Nigeria.

In a disclosure on the Nigerian Stock Exchange  (NSE) on Tuesday, FCMB said his resignation was accepted at a board meeting held on March 8.

“FCMB Group Plc hereby announces the retirement of Mr. Bismarck Rewane from the Board of the Company. This follows the acceptance of his retirement by the Board, at the Board of Directors’ meeting held on Friday, March 8, 2019,” the disclosure read.

“The Board and Management of FCMB Group Plc appreciate his valuable contributions and for always being available whenever called upon.”

The renowned economist said he is happy to be leaving the bank stronger than he met it.

“I have been on the board of at least four banks in Nigeria– Lion Bank, Intercity Bank, Fidelity Bank and FCMB, my fourth,”  he said.

“My time had come to an end, Central Bank allows non-executive directors some terms and so I had to retire.

“The bank is in very sound shape, so I’m happy I left it stronger than when I came in many years ago.

“FCMB is a super brand and it will continue to do very well.”