July 31: The dispute between the board of directors of Sunrise Bank and the CEO has been resolved for the time being.
The dispute had taken unexpected turns after the board allegedly demanded resignation of CEO Janak Sharma Poudel. However, the misunderstanding has been resolved after both sides reached an understanding on Thursday (July 30) to move ahead hand in hand.
A board meeting on Thursday decided to take future course of action on mutual understanding. Company Secretary of Sunrise Bank, Ishwar Pokharel, informed that the board meeting took a decision for the welfare of all stakeholders.
“We have resolved the issue by taking all sides into confidence. Both sides have decided to work together for the welfare of the organisation,” said Pathak, adding that the board had sought clarification from CEO Poudel instead of resignation.
“The board and the CEO have agreed to collaborate to take the bank to new heights,” said Pathak.
Nepal Rastra Bank had called both sides for discussion recently after the dispute grew out of proportion. The central bank had suggested the board members of the bank to sort out the issue through mutual understanding. An informed source told New Business Age that the board members of the bank decided to collaborate with the CEO fearing intervention by the central bank.