Dutch company changes rep in Azerbaijani bank’s management

As a result of changes in the management of Azerbaijan’s DemirBank, Ferdinand Tuinstra became a member of the bank’s supervisory board.

The renewed composition of DemirBank’s supervisory board was announced on the bank’s website March 14.

Tuinstra replaced Dick Snijders who was representing the Netherlands Development Finance Company (FMO) in the bank’s supervisory board.

FMO is one of the shareholders of DemirBank.

FMO representatives can serve as members of DemirBank’s supervisory board no more than two terms of four years each and Snijders has already served as FMO representative for eight years.

Source: Trend