Bank ABC Group Chief Executive Announces His Retirement
Following the meeting of its Board of Directors on 25th of July 2022, Bank ABC has announced the retirement of its Group Chief Executive, Dr. Khaled Kawan effective 1st of August 2022.
The announcement of Dr. Kawan's retirement concludes discussions about the wish of Dr. Kawan to retire which were ongoing with the Chairman for over a year. It brings to end a remarkable career with the Group of 31 years, with the last ten years as Group CEO. Dr. Kawan joined Bank ABC in 1991 and has served in a variety of key local and global roles for the Group until 2009, when he was appointed as Deputy Group Chief Executive.
The Board of Directors have appointed Mr. Sael Al Waary, Bank ABC Deputy Group CEO, as ‘Acting Group CEO’, with effect from 1st August 2022, upon Dr. Kawan’s retirement. Mr. Al Waary is a long-time leader at Bank ABC Group and of recent the driving force behind its strategic digital transformation.
Until year-end, there will be a transition period while Bank ABC deploys its assessments and plans towards permanent succession. Dr. Kawan will remain associated with the Group as Chairman of the Boards of ABCIB, ABC SA and with Banco ABC Brasil. He shall also continue to support Mr. Al Waary in the planned transition process as may be required.
On behalf of the Bank ABC Board of Directors, Chairman of the Board, Mr. Saddek El Kaber expressed his gratitude to Dr. Kawan, for his long-service and remarked upon the Bank’s many achievements under his leadership. “I would like to sincerely thank Khaled for his outstanding service to the Bank and his enduring commitment to our values. During his tenure, the Bank has witnessed many landmark achievements.”
On his part, Dr. Khaled Kawan, noted, “I would like to thank the Board and all stakeholders for their tremendous support. It has been an honour and a privilege to be able to contribute to the success of the Group and reasserting its formidable reputation in the market place.”
Mr. Sael Al Waary, said, “I would like to thank the Board for its trust. The Group has an ambitious transformational agenda to fulfil and we remain determined to maintain full focus on the complete and successful delivery of this endeavour.”
