Georgia Capital announces the appointment of Avto Namicheishvili as the CEO of the water utility and renewable energy businesses

Georgia Capital PLC (the Group or Georgia Capital) today announces the appointment of Avto Namicheishvili as the Interim Chief Executive Officer (CEO) of the Group’s water utility and renewable energy businesses. Avto will assume the interim CEO role in addition to his deputy CEO role at Georgia Capital, until a permanent appointment is made later in the year. Effective from 28 January 2019, Archil Gachechiladze has resigned as the CEO of the Water Utility and Renewable Energy businesses in order to join Bank of Georgia Group PLC as their CEO.

Irakli Gilauri, Georgia Capital’s Chairman and CEO commented: “Under Archil’s leadership, the management team of our Water Utility and Renewable Energy businesses have demonstrated outstanding performance and continued efficiency improvements, while delivering its strategic objectives and priorities. I wish Archil success in his new role and would like to thank him for his significant contribution to the development of our businesses and the strong management team. Overall, I am delighted to see the development of management talent in the Georgia Capital companies, which is the key foundation for our success. Looking ahead, the management team of our Water Utility and Renewable Energy businesses is very well positioned and I am confident they will continue to successfully deliver on our strategy.”

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