Bunna Bank S.C., one the private banks in Ethiopia, has endorsed Negusu G/Egziabher, to be its newest CEO. Negusu was among the 3 candidates for the spot.

Commenting on the development, Engineer Tibebu Eshetu, Chairperson of Bunna, said, “All we have left to do is negotiate benefits with the new CEO”.  “Then the selection will be endorsed by the board and sent to the National Bank of Ethiopia.”

Negusu, who was also the president of Lion International Bank S.C., is going to be the third CEO of the bank, following Negede Abebe and Eshetu Fantaye.

The National Bank of Ethiopia (NBE), which needs to approve any presidential appointment of banks, requires CEOs to at least have 8 years of banking experience, out of which 4 should be in a managerial position. The newly appointed CEO, has close to 20 years of work experience in the banking industry.

It was in October that Eshetu left his position as a CEO in Bunna, stating that he was having health problems. According to Fortune, prior to resigning from his post Eshetu was on a sick leave for 5 months following car accident that hospitalized him.

When Eshetu was on a sick leave and after he resigned, it was Tadesse Chinkel that took over as an acting CEO at Bunna.

Source: Fortune