Volodymyr Lavrenchuk is stepping down as board chairman of Raiffeisen Bank Aval, a bank he has led for 14 years.

Volodymyr Lavrenchuk is stepping down as board chairman of Raiffeisen Bank Aval, a bank he has led for 14 years. Oleksandr Pysaruk, a former first deputy governor of the National Bank of Ukraine, will take over the post. Last year, Raiffeisen’s Ukraine unit recorded $200 million in profits. Martin Grüll, CFO of the Austrian bank, said of Lavrenchuk: “He carefully and with great dedication led the bank, sometimes leading it through very stormy waters. He passes his successor a strong bank.”