Advocate Vekuii Rukoro has resigned as CEO, director and employee of the FNB Group with effect from 28 February and will join Meatco as its new CEO on 01 March 2013.
The final agreement with the FNB Group was reached with the board of directors at the Board Meeting on 31 January 2013.
According to the Chairman of the FNB Namibia Board, Mr. Claus Hinrichsen, Rukoro decided to go on early retirement due to "various personal reasons". Rukoro's resignation marks the end of a seven year term at FNB.
Mr. Hinrichsen said that, while the board appreciates the tremendous contribution made by Advocate Rukoro, both as a leader and business man that will not easily be filled, the board accepted his request for early retirement and can only thank him for his loyal and dedicated service to FNB Namibia, its staff and clients.
The former attorney-general joined the bank in March 2006, during which time the institution experienced a steady growth in both its financial position and employee structure.
"This was the most amazing, the most enjoyable, the most satisfying, the most beautiful and the most memorable seven years of my corporate life," said Rukoro.
The excellence of the Group's financial performance under his leadership is reflected by the growth from 2006 to 2012. In 2006, the bank's profits before tax amounted to N$359 million, a figure which grew to N$821 million in 2012.
Rukoro has recently been linked to the CEO position at Meatco to replace Kobus du Plessis who has already announced his intention to step down in April this year. Rukoro will serve as CEO of the Meat Corporation of Namibia (Meatco) for the next five years.
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