KHOBAR, Saudi Arabia, Oct 1 (Reuters) - Oman’s Bank Sohar , which is in the process of merging with larger rival Bank Dhofar, said on Wednesday that Chief Executive Mohamed Abdulaziz Kalmoor had resigned for personal reasons.
Rashad Ali al-Musafir, the bank’s chief financial officer, would replace Kalmoor as acting CEO for an interim period, the bank said in a bourse filing.
Bank Sohar is considering a merger with Bank Dhofar that would create the sultanate’s second-largest lender by assets. In June, Bank Dhofar proposed a preliminary share swap ratio after first approaching Bank Sohar about a tie-up in July 2013.
Bank Dhofar has also changed CEO during the time that a merger has been considered, with Anthony Maloney resigning for personal reasons in September 2013. (Reporting by Reem Shamseddine; Editing by David French)