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ASA International Group PLC announced the appointment of Karin Kersten as CEO and Dirk Brouwer as Deputy Chairman of the Board and Special Adviser, both effective 15 June 2023, following Board approval. Shareholders also approved Chris Low's appointment as Non-Executive Director at the 15 June 2023 AGM, who was then appointed Chair of the Audit and Risk Committee on the same date, while Gavin Laws retired as Non-Executive Director after ten years of service.
| Date | 16 Jun 2023 |
| Time | 07:00:05 |
| Category | Board changes |
| ID | 9177C |
Press Release
ASA International Group plc reports appointment of Karin Kersten as CEO
London, United Kingdom / Amsterdam, The Netherlands, 16 June 2023 - ASA International Group plc ('ASA International', the 'Company' or the 'Group'), one of the world's largest international microfinance institutions, today announces the appointment of Ms Karin Kersten as CEO of the Group as of 15 June 2023.
In line with the announcement by the Company on 24 February 2023, Mr. Dirk Brouwer, Co-Founder of ASA International stepped into a new role as of 15 June 2023.
After the AGM on 15 June 2013 the Board approved the appointment of Karin Kersten as CEO along with the appointment of Dirk Brouwer as (i) Deputy Chairman of the Board of ASA International and (ii) Special Adviser to the new CEO, the Executive Committee and the broader management team.
In his new role, the Company expects Dirk to (a) smoothen the path of transition and (b) support the new leadership going forward. In this capacity the Board fully expects Mr. Brouwer to continue to make a significant contribution to the strategic and operational development of the business for the foreseeable future.
At the AGM, the Shareholders also approved the appointment of Chris Low as Non-Executive Director (following his appointment to the Board on 1 February 2023). Chris has been appointed as Chair of Audit and Risk Committee as of 15 June 2023.
Gavin Laws retired as Non-Executive Director having joined the Board of ASA International on 22 January 2013.
Guy Dawson, Chairman of the Board, comments:
"As a Board, we congratulate Karin on her appointment as CEO of the Company. I am confident that we have the leadership in place to enable ASA International to continue to thrive in a turbulent world. Serving close to 2.5 million female clients, the Company is a strong advocate of female entrepreneurship. With Karin at the helm of our Company, we will further drive female leadership and diversity in our organisation."
"I would like to extend my gratitude to Dirk, being the co-founder of the Company, for his leadership and drive to build and grow the Company into one of the leading international microfinance institutions, as well as for his continued commitment to the Company in his new role."
"Gavin Laws will be retiring after ten years of service. We are sincerely grateful to Gavin for his steadfast and skilful contribution to the Board and wish him every success in his second retirement. We are fortunate to welcome in his stead Chris Low, who brings a wealth of relevant experience to the role of Non-Executive Director and Chairman of the Audit and Risk Committee."
This announcement contains information that qualified or may have qualified as inside information and is disclosed in accordance with the Market Abuse Regulation (EU) 596/2014 (as it applies in the UK pursuant to the European Union (Withdrawal) Act 2018) ('MAR').
Enquiries:
ASA International Group plc
Investor Relations
Mischa Assink ir@asa-intenational.com
About ASA International Group plc
ASA International Group plc (ASAI: LN) is one of the world's largest international microfinance institutions, with a strong commitment to financial inclusion and socioeconomic progress. The company provides small, socially responsible loans to low-income, financially underserved entrepreneurs, predominantly women, across South Asia, South East Asia, West and East Africa.