ASA International Group plc -
Board and Management Changes
ASA International Group plc (LSE:
ASAI), one of the world's largest international microfinance
institutions announces that Karin Kersten,
Chief Executive Officer, has decided to step down from her role to
pursue other opportunities with effect from 1 November
2024.
In light of this development, the
Board is establishing a transitional management team to ensure
continuity and to take ASA International forward into the next
phase of its transformation journey. With effect from 1 November
2024, Chris Low will step up from his current Independent
Non-Executive Director role to become Executive Chairman and to
lead this team. Rob Keijsers, current Chief Digital and Information
Officer, will join the Board as an Executive Director and will act
as Interim Chief Executive Officer. Guy Dawson will revert to being
an Independent Non-Executive Director and will support Chris in his
expanded role. Karin Kersten will continue to work with the
transitional management team over the coming weeks, to ensure a
smooth transition.
The Board has initiated a search
process to assess external and internal candidates for the role of
permanent Chief Executive Officer and further announcements will be
made in due course. Following the conclusion of this process, it is
expected that Chris will become Non-Executive Chairman.
Guy Dawson, on behalf of the Board,
commented:
"We would like to thank Karin for her leadership, passion and
contribution to ASA International over the last three years, during
which time she has driven significant change, including the
development of our digital strategy and a platform for our future
transformation plans, as well as recent marked improvements in the
Group's operational and financial performance.
"We are pleased that Chris has agreed to become Executive
Chairman and to guide the management team. Chris has extensive
leadership experience in international financial services, risk
management and digital transformation, working across Africa, Asia
and the Middle East. Equally, I am pleased to welcome Rob on to the
Board in an enhanced leadership role. The Board have been impressed
with his broader management skills and are confident that he will
fully support Chris during this transitional
period."
Karin Kersten added:
"The strong team at ASA International is driven to empower
women and increase their economic and social position through
access to financial services. The time is now right for me to move
on and I look forward to following the successes of ASA
International and its vital work to enhance financial
inclusion."
The Group confirms that its business
performance and outlook remain positive, as reported in the 2024
Interim Results published on 27 September 2024. The Q3 2024
Business Update will be published at 7am UK on 22 October
2024.
Contact Details
ASA
International Group plc
Investor Relations
Jonathan Berger
ir@asa-international.com
Notes to Editors
Chris Low has been an Independent
Non-Executive Director (INED) of ASA International Group plc since
February 2023. Further he sits as an INED on the Boards of United
Bank for Africa (UK) Limited, EdPartners Africa Holdings Ltd, a
provider of finance to affordable schools in Kenya, and the
Scottish African Business Association. In addition, he advises the
Zephyr Acorn Fund, an investor in early-stage impact companies in
East Africa, the Mobility Credit Fund that has been established to
capture opportunities in the Africa electric mobility sector and
several FinTech businesses operating on the continent. Prior to
these appointments he was I&M Group Plc's Regional Director for
its East Africa businesses. With over 30 years in international
financial services, risk management and digital transformation,
Chris has specialised in emerging markets, working across Africa,
Asia and the Middle East.
Rob Keijsers took on the role of
Chief Digital and Information Officer of ASA International Group
plc in July 2023, having joined as Chief Information Officer in May
2022. Other than leading the IT department, he is responsible for
the overall digital transformation journey which includes the
implementation and adoption of the specific digital technologies as
well as the way in which people, processes and technology can
enable this digital way of working. Rob joined from ABN Amro Bank
and over the past 15 years has gained experience in the cross
section of business operations and IT in a multinational banking
environment, specifically in large scale digital transformations,
post-merger and agile integrations, and setting up green field
operations.
This announcement is made pursuant
to Listing Rule 6.4.6R. In accordance with LR 6.4.8R, the Company
confirms that there is no information to be disclosed in terms of
LR 6.4.8R (1) to LR 6.4.8R (6) inclusive in respect of Rob
Keijsers.
About ASA International
ASA International Group plc (LSE:
ASAI) 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.
Disclaimer
'ASA International', the 'Company',
the 'Group' all refer to ASA International Group plc and its
subsidiaries.
This announcement does not
constitute or form part of any offer or invitation to purchase,
otherwise acquire, issue, subscribe for, sell or otherwise dispose
of any securities, nor any solicitation of any offer to purchase,
otherwise acquire, issue, subscribe for, sell, or otherwise dispose
of any securities. The release, publication or distribution of this
announcement in certain jurisdictions may be restricted by law and
therefore persons in such jurisdictions into which this
announcement is released, published or distributed should inform
themselves about and observe such restriction.
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated by the Market Abuse Regulation (EU)
No.596/2014, as it forms part of UK law by virtue of the European
Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
The person responsible for the
release of this announcement on behalf of the Company for the
purposes of MAR is Martijn Bollen, Chief Compliance Legal &
Risk Officer.