JSE-listed Transaction Capital Limited said Ms Olufunke Ighodaro has resigned as a non-executive director of the company.
The company also said Olufunke Ighodaro also vacated the position as chairman of the audit, risk and compliance committee (ARC) and member of the asset and liability committee with effect from 30 November 2018.
As an explanation, Transaction Capital said Ms Ighodaro’s resignation follows her appointment as an executive director and CFO-designate of another board which will require a significant proportion of her time.
Ms Diane Radley, who is an independent non-executive director and a member of the ARC, will assume the position of chairman of the ARC from 1 December 2018.
The board of directors of the company wishes to thank Ms Ighodaro for her contribution to the company and wishes her well in her future endeavours.