LOME, March 3 Ecobank shareholders in
an extraordinary meeting on Monday passed a governance action
plan to address criticism by Nigeria's securities regulator
while embattled CEO Thierry Tanoh retained his position, a
senior bank official said.
Institutional investors at the pan-African lender, which is
one of sub-Saharan Africa's biggest banks, withdrew a motion to
create a seven-member interim board in place of the current
board, which has 12 members.
There was no resolution on Tanoh who therefore retained his
position. The bank's biggest shareholder, Public Investment
Corporation of South Africa, on Saturday said Tanoh must step
down immediately, citing a string of governance and other
(Reporting by Matthew Mpoke Bigg; Editing by Emma Farge)