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Kazkommertsbank proposes acting CEO

JSCKazkommertsbank said April 1 that it proposed Managing Director AdilBatyrbekov to become acting CEO of the company, as current CEO Magzhan Auezovwas proposed as chairman of the Council of Association of Financiers ofKazakhstan, an independent position.

Auezov's appointment is subject to approval by the council'smembers on April 11; he will have to resign from his current executive anddirectorship positions at Kazkommertsbank.

Kazkommertsbank noted that Kenes Rakishev, a shareholder andmember of the board of directors, was expected to chair the bank's board ofdirectors, while Chairman Marc Holtzman will be named CEO in May after anextraordinary general meeting of shareholders.