The long serving president of Development Bank of Ethiopia (DBE), Esayas Bahre, is dismissed from his post effective of November 18, 2016.

According to Fortune, the letter of dismissal was sent to Esayas from the Public Financial Institutions Supervision Agency, signed by Director General, Sintayehu Woldemichael.

Esayas started his banking carrier at the Commercial Bank of Ethiopia. He worked his way up to the Vice President of Branch Operation & Coordination. He was appointed as the President of DBE back in 2008.

“I am thinking of having a rest for now”, Esayas commented.

Communication Director of DBE, Behailu Kassaye (PhD), on the other hand explained there are no nominees forwarded by the Agency for the position.

Source: Fortune