OREANDA-NEWS. Kazkommertsbank (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release:

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... today that Mr. Magzhan Auezov has resigned from his position of CEO and member of the Board of Directors of JSC Kazkommertsbank (KKB, Bank) and member of the Board of Directors of JSC Kazkommerts Policy due to his nomination to position of the Chairman of the Board of Association of Financiers of Kazakhstan (AFK). Mr. Adil Batyrbekov, Managing Director of the Bank, has stepped in as an acting CEO of KKB.

Mr. Magzhan Auezov has been elected as a new Chairman of the Board of AFK by decision of the members of the Board of AFK at the General meeting of the AFK members held on April 11, 2016. Since the Chairman of the Board of AFK is an independent position, Mr. Auezov resigned from all his executive and directorship positions in KKB group as it was previously announced.

Mr. Kenges Rakishev, major shareholder of the Bank and member of the Board of Directors and Mr. Marc Holtzman, Chairman of the Bank, expressed their gratitude to Mr. Auezov for his contribution and wished him success on his new assignment.

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The press-release is available on KASE website – http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_120416_en.pdf