Tbilisi (GBC) - Arne Berggren, Chairman of the Board of TBC Bank Group PLC, fully supports replacing Butskhrikidze with Tkhelidze.

Arne Berggren, Chairman of the Board, commented: “The Board fully supports Vakhtang Butskhrikidze’s recommended organisational changes to ensure the continued strong execution of our strategy in Georgia and to facilitate increased focus on the Group’s ambitions in Uzbekistan and other markets. George Tkhelidze, who has long been identified as a potential internal successor as CEO of the Bank, brings strong leadership experience and a proven track record. He is well positioned to lead our Georgian business."

“At this exciting time in TBC’s story, I aim to dedicate my energy to leading the Group’s overall strategic direction. As Group CEO, I will of course remain highly involved in all aspects of our businesses across both Georgia and Uzbekistan, as well as exploring other international opportunities. I am delighted to be succeeded as CEO of our Georgian subsidiary by George. I have worked with George for over a decade. He has done a fantastic job leading CIB and Wealth Management, and I have no doubt he will be a great leader for our Georgian business as a whole going forward. I would also like to thank Tornike for all his work and commitment to the Bank over the past eight years, and I wish him the best of luck in his future endeavours”, - Vakhtang Butskhrikidze, Group CEO said.

The Supervisory Board of JSC TBC Bank has approved that the responsibility for the Georgian operations will be assumed by George Tkhelidze, in order to enable the Group CEO, Vakhtang Butskhrikidze, to focus on the Group’s strategic priorities in Georgia, Uzbekistan and internationally. Mr. Tkhelidze is appointed as CEO of JSC TBC Bank with effect from 1 March 2026, or such later date as may be required for the completion of relevant regulatory approvals.

There is also another reshuffle at the management, Tornike Gogichaishvili, Deputy CEO and head of MSME and Affluent Banking, will leave the Bank with effect from 1 March 2026.