Development Bank of Namibia Announces CEO Resignation, Appoints Interim Leader

Dr. John Steytler has resigned from his role as Chief Executive of the Development Bank of Namibia, effective immediately, to pursue new opportunities. The Board Chair, Evangelina Nailenge, commended his service, while the bank confirmed its dedication to its mission. Mr. John Mbango will serve as acting Chief Executive until a new appointment is made.

Dr. John Steytler has resigned from his position as Chief Executive of the Development Bank of Namibia effective immediately, as announced in a statement on Tuesday. His resignation is attributed to his pursuit of “new interests and opportunities,” concluding his tenure, which commenced in September 2023.

Evangelina Nailenge, Chairperson of the Board, expressed gratitude for Dr. Steytler’s contributions, 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 Development Bank emphasized its commitment to fulfilling its mandate and serving clients to enhance Namibia’s developmental agenda and socioeconomic growth. The process to recruit a permanent Chief Executive will commence immediately. Meanwhile, Mr. John Mbango, who is currently the Head of Coverage and Large Transactions, will serve as acting Chief Executive until further notice.

The abrupt resignation of Dr. John Steytler from the Development Bank of Namibia marks a significant change in leadership. His tenure, although brief, was impactful, and as the recruitment process is set to begin, the bank reaffirms its commitment to its developmental mission. Mr. John Mbango will take on interim responsibilities during this transition.

Original Source: economist.com.na