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Oschadbank launches competition for board chair

The state Oschadbank has launched a competition for the chairman of the board.

The bank has announced this, the Ukrainian News agency reports.

"The Supervisory Board of Oschadbank announces the start of a competitive selection process for the chairman of the board due to the approaching expiration of the current manager's contract and in accordance with Part 38, Article 7 of the Law "On Banks and Banking Activities", which provides for the appointment of the chairman of the board based on the results of a competitive selection," the report says.

The future chairman of the board must lead the implementation of the strategy and will be responsible for Oschadbank's long-term institutional stability, the growth of its value, the development of client-centric business models, digital transformation, strengthening market positions and supporting the country's economic recovery.

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In order to ensure a transparent, objective and professional selection process, the Supervisory Board has engaged Korn Ferry, one of the leading international management consulting companies specializing in the assessment and selection of top management for leading institutions in the world.

Korn Ferry supports the process of searching, assessing and selecting candidates, conducting searches both in Ukraine and abroad.

Preference will be given to leaders with managerial banking experience, strategic thinking, high ethical standards and the ability to implement large-scale transformations in conditions of complex changes.

As the Ukrainian News agency earlier reported, the State Savings Bank appointed Serhii Naumov as the Chairman of the Board in October 2020.

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Naumov has a higher technical and economic education, and in 2005 he received an MBA from Kassel International Management School (Germany).

Naumov's total work experience in the banking sector is 25 years.

He held management positions in leading banks in Ukraine, including Raiffeisen Bank Aval, Ukrsibbank, Pravex Bank, and Piraeus Bank.

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