GCB Bank PLC has announced the appointment of Professor Joshua Alabi as an Independent Non-Executive Director and Chairman of the Board of Directors, effective immediately.

His appointment is subject to shareholder approval at the bank’s upcoming Annual General Meeting, as well as the necessary regulatory endorsements from the Bank of Ghana and other relevant authorities.

Professor Alabi succeeds Mr. Daniel Kwaku Tweneboah Asirifi, who recently stepped down as Director and Chairman of the Board.

Professor Joshua Alabi brings over three decades of experience in academia, public service, and corporate governance. Renowned for his visionary leadership and strategic acumen, he has made significant contributions to various institutions and sectors, both in Ghana and internationally, according to a statement issued by the bank.

Professor Alabi is a former Chairman of HFC Bank, as well as other several prestigious roles, including:

• Chairman of the Board of Trustees for the Social Security and National Insurance Trust (SSNIT)
• Chairman of the Accra Polytechnic Governing Council (now Accra Technical University)
• Chairman of the Ghana Book Development Council

He is also famed for his tenure as Vice-Chancellor of the University of Professional Studies, Accra (UPSA)

In addition to his academic and corporate accomplishments, Professor Alabi has a rich history of public service.

He served as a Member of Parliament for the Krowor Constituency and held ministerial positions for the Greater Accra and Northern Regions.

Meanwhile, GCB Bank has appointed Farihan Alhassan as its new Managing Director, following the stepping down of Mr. Kofi Adomako after a "mutual and amicable agreement" between him and the bank, a statement issued by the bank has said.

At 44, Mr. Alhassan brings two decades of banking experience to the role.