Dr. John Steytler has resigned as CEO of the Development Bank of Namibia, effective immediately, to pursue new opportunities. His tenure started in September 2023. In his absence, John Mbango will act as CEO, while the recruitment for a new chief executive begins immediately.

Dr. John Steytler has resigned from his position as Chief Executive of the Development Bank of Namibia, effective immediately. This decision was made public in an official statement released on Tuesday, citing his intention to explore new interests and opportunities. Steytler’s tenure began in September 2023 and has now come to an unexpected close.

Evangelina Nailenge, the Chairperson of the Board, expressed gratitude towards Dr. Steytler for his service, stating, “Dr. Steytler has served as Chief since 2023 and has made a marked impact on the Bank. We thank him for his service and dedication and wish him well in his future endeavors.”

The statement emphasized the Development Bank of Namibia’s commitment to continuing its mission of supporting the country’s developmental agenda and promoting socioeconomic growth. Furthermore, the recruitment for a new Chief Executive will commence immediately.

In the interim, Mr. John Mbango, who previously served as Head of Coverage and Large Transactions, has been appointed to act as Chief Executive until further notice. His extensive experience is expected to lead the bank effectively during this transitional period.

In summary, Dr. John Steytler’s resignation as CEO of the Development Bank of Namibia marks a significant change for the institution. Under his brief leadership, he contributed positively before deciding to pursue new opportunities. The bank is committed to continuing its mission, with Mr. John Mbango temporarily assuming the CEO role while a search for a permanent replacement begins.

Original Source: economist.com.na