ASA International Group PLC Appointment of new Chairman (0836J)
December 18 2020 - 1:00AM
UK Regulatory
TIDMASAI
RNS Number : 0836J
ASA International Group PLC
18 December 2020
Press release
ASA International Group plc appointment of new Chairman
Amsterdam, The Netherlands, 18 December 2020 - ASA International
Group plc, ("ASA International", or the "Company"), one of the
world's largest international microfinance institutions, today
announces that Md. Shafiqual Haque Choudhury, co-founder and
Chairman of ASA International, has decided to resign as a Director
and as Chairman of ASA International, for health reasons with
effect of 31 December 2020. Mr Choudhury initially planned to
resign at the Company's AGM in June 2020, but was requested by the
Board to stay on until the end of 2020 and assist in navigating the
Company through the COVID-19 crisis. At the request of the Board,
Mr Choudhury will be assigned the role of President of the Company
following his resignation as Director and Chairman. This will
enable the Company to continue benefitting from Mr Choudhury's
valuable guidance and counsel.
The Board and the Company's senior management are grateful for
Mr Choudhury's inspiration and leadership in founding and expanding
ASA International into one of the world's largest and most
successful, international microfinance institutions with operations
in 13 countries throughout Asia and Africa.
Following Mr Choudhury's resignation, Guy Dawson will be
appointed as Chairman of the Board as of 1 January 2021 . Mr Dawson
will continue to chair the Nomination Committee and the Independent
Directors Committee.
Mr Dawson has been a Non-Executive Director of ASA International
since 2013. Mr Dawson has extensive experience as a Non- Executive
Director and previously served in that capacity on the Boards of
The BOC Group plc and Alliance Boots plc. He is currently a
Non-Executive Director of Egerton Capital, Citywire Holdings and
Ridgeway Partners. He was a founding partner of the independent
corporate advisory firm Tricorn Partners, and prior to that held
senior investment banking positions in London at Nomura, Merrill
Lynch and Deutsche Bank.
Having originally joined the Board of ASA International in 2013,
Mr Dawson might normally be expected to retire in 2022, nine years
after his original appointment. However, as the bulk of his service
to date has been before the Company's listing in July 2018, the
Board deems it appropriate for him to serve as Chairman beyond 2022
(subject of course to his annual re-election by the shareholders)
so that the Company can continue to benefit from the knowledge and
expertise that he has accumulated both before and since the
listing. This matter will be kept under review by the Board in the
light of its broader succession and diversity planning, as well as
the Chairman's performance in the role.
Mrs. Hanny Kemna, Non-Executive Director of the Company since
2018, will take over Mr Dawson's responsibilities as Senior
Independent Director.
Commenting on his decision to step down, Md. Shafiqual Haque
Choudhury said:
"After having established and built ASA NGO in Bangladesh, I am
pleased that I was given the opportunity to establish ASA
International as one of the leading international microfinance
institutions serving and improving the livelihoods of so many
female micro-entrepreneurs in countries across Asia and Africa. I
hope that as President I can continue to make a positive
contribution to the Company in what are challenging and
unprecedented times."
Dirk Brouwer, Chief Executive Officer and co-founder of ASA
International, said:
"I am grateful for having worked in such close partnership with
Shafiq in building ASA International. Shafiq dedicated his life to
improve the livelihoods of low-income women in Bangladesh and
throughout the world. He is a true legend who revolutionized
microfinance by designing the world's most cost efficient and
client friendly operating model, which has benefitted many millions
of female micro-entrepreneurs. Besides his leadership and enormous
contribution to ASA Bangladesh and ASA International, Shafiq helped
many fledgling microfinance institutions across the world to become
the most successful operators in their respective countries.
Fortunately, Shafiq has agreed to stay on as President so that we
can continue to benefit from his unique expertise and experience,
hopefully for many more years to come."
Guy Dawson said:
"I am honoured to become the Chairman of ASA International and
would like to pay my own tribute to the inspirational leadership of
Shafiq Choudhury. I look forward to working closely with the Board
and the management team as we continue to deal with the
consequences of COVID-19, while planning for the Group's long-term
development and growth."
Enquiries:
ASA International Group plc
Investor Relations +31 6 2030 0139
Véronique Schyns
vschyns@asa-international.com
About ASA International Group plc
ASA International is one of the world's largest international
microfinance institutions, with a strong commitment to financial
inclusion and socioeconomic progress. The company provides small,
socially responsible loans to low-income, financially underserved
entrepreneurs, predominantly women, across South Asia, South East
Asia, West and East Africa.
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