ACCRA Feb 24 Pan-African lender Ecobank will
hold a hastily arranged board meeting on Tuesday, nearly two
weeks after the bank's executive leaders wrote to the chairman
calling for Chief Executive Thierry Tanoh to step down.
Deputy chief executive Albert Essien and three other members
of the five-member Group Executive Committee that Tanoh leads
sent an email on Feb. 13 to Siaka saying Tanoh should stand down
to resolve a long-running crisis of leadership.
Last week, Nigeria's Securities and Exchange Commission
(SEC) said it had written to Ecobank to say it should reinstate
its finance director, Laurence do Rego, who was suspended by the
bank last August and left the bank in January.
The SEC began an investigation last year after do Rego told
regulators she was pressured to misstate 2012 financial results.
Ecobank denies her allegations.
Ecobank, one of sub-Saharan Africa's largest financial
institutions operating in 33 African countries, has told the SEC
that to reinstate do Rego would be criminal under Togolese law.
Board chairman Andre Siaka said the meeting would begin at
10 a.m. (0900 GMT) in Lome, Togo, where the bank has its
headquarters, but declined to give details of the agenda.
"There will be a board meeting tomorrow in Lome and the
agenda is confirmed," Siaka told Reuters by telephone.
Ecobank's board has 12 members, including Tanoh and the four
other members of the executive committee that runs the bank.
The board meeting comes before an extraordinary general
meeting (EGM) in Lome to consider a slate of governance reforms
including establishing a seven-member interim board.
The EGM follows criticism of the bank's governance by the
Nigerian regulator as well as a report on governance by
professional services organization EY that was commissioned by