Ecobank CEO's contract must be terminated immediately -PIC letter

ACCRA, March 1 Sat Mar 1, 2014 11:11am EST

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ACCRA, March 1 (Reuters) - Ecobank chief executive Thierry Tanoh's contract must be terminated immediately, the bank's top shareholder Public Investment Corporation (PIC) said in a letter to the bank's interim chairman seen by Reuters on Saturday.

Andre Siaka told Reuters he had received the letter, which was signed by Daniel Matjila, the chief investment officer of the South African PIC, and would respond. Matjila is one of 12 directors on Ecobank's board.

The letter comes ahead of Monday's extraordinary general meeting of the bank, which is one of the biggest financial institutions in sub-Saharan Africa. That meeting at the bank's headquarters in the Togolese capital Lome will vote on governance reforms. (Reporting by Matthew Mpoke Bigg; Editing by Toby Chopra)

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