Announcement-Change in the Composition of the Board of Directors
TenGer Financial Group (the “Group”) announces the resignation of Mr. James Anderson as a member of the Board of Directors (the “Board”) of the Group with effect from 31 July 2011. Jim had served on the Board of Directors of initially XacBank and then of the Group since April 2003.
Jim, who worked in Ulaanbaatar as Financial Services Manager for Mercy Corps, is resigning from the Board due to his relocation to Vientiane, Laos.
During his service on the Boards, Jim has made valuable contributions to defining and strengthening the strategies for XacBank and the Group’s expansion and growth acting in the best interests of all the shareholders, stakeholders and customers.
TenGer Financial Group and the Board would like to thank Jim for all his efforts to developing micro-finance in Mongolia and support in achieving the common goals of the Group and wish him success in his new position in Laos.
As of the date of this announcement, the Board consists of Mr. Ganbold Chuluun, being the chairman, Mr. Arno de Vette, Mr. Arvid Tuerkner, Mr. Bold Magvan, Ms. Erdenejargal Perenley, Mr. Michael Madden, Mr. Richard Ranken and Ms. Sarah Djari, being the members, and Mr. Od Jambaljamts and Ms. Enkhchimeg Davaanyam, being the interim members.
August 02, 2011
TenGer Financial Group