The Chief Executive Officer of Bank of Maldives (BML), Karl Stumke, has officially announced his resignation, according to a statement released by the bank.
Karl Stumke will continue to serve as CEO until the bank’s Extraordinary General Meeting (EGM), which is scheduled to take place on 21st September 2024. The bank’s board of directors has already initiated the process of identifying and appointing a new CEO. During this transitional period, the responsibilities of the CEO will be assumed by the Deputy CEO.
Karl Stumke was appointed as CEO of BML on 11th October 2022. Prior to his role at BML, he held the position of CEO at Al Ahli Bank of Kuwait in the United Arab Emirates. His leadership at BML has been marked by significant developments in the banking sector.
The bank has not yet provided further details regarding the reasons behind Karl Stumke’s resignation. The upcoming EGM is expected to address the transition and provide further clarity on the bank’s future leadership.
