TBC Bank Group PLC (LON:TBCG) has announced changes to the executive management team of the Group’s Georgian banking subsidiary, JSC TBC Bank.
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.
Mr. Tkhelidze has significant international banking experience and a strong track record in the Group. He joined the Bank in 2014 as Deputy CEO and Chief Risk Officer. Since November 2016, he has been head of the Bank’s CIB and Wealth Management businesses. In this role he has led the CIB franchise to a leading position in the Georgian market. His appointment is intended to further strengthen the Bank’s position across all business segments in Georgia.
Tornike Gogichaishvili, Deputy CEO and head of MSME and Affluent Banking, will leave the Bank with effect from 1 March 2026.
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.”
Vakhtang Butskhrikidze, Group CEO, commented: “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.”
George Tkhelidze, incoming CEO of JSC TBC Bank, commented: “It is a great honour to be succeeding Vakhtang as CEO of TBC Bank in Georgia. It is hard to overstate the role that Vakhtang has played in the Bank’s successful journey over the past three decades. Under his longstanding leadership, the Bank has become a highly successful and strong leader in Georgian banking. I am greatly looking forward to continuing to work with Vakhtang and TBC’s excellent team to further strengthen our leadership position in Georgia in the coming years.”
