The Fiji Development Bank has announced today that it has reduced the number of its General Managers from 6 to 4 in their restructure of the Bank with former CEO Tukana Bavoro being given his marching orders last week.

FDB Chairman, Taito Waradi has also confirmed that former CEO Tukana Bovoro has been terminated effective from last Friday.

Waradi said one of the main reason associated with Bovoro's dismissal was his irreconcilable differences over management philsophy between his and the FDB Board.

He added Bovoro has been given the opportunity to respond to the Board's concerns and they had fully addressed the decision to relieve him of his duties.

The Bank said the restructure includes the creation of a new position, General Manager North in response to the need for greater bussiness development in the Northern Division.

The position of the CEO is being adverstised locally and an appointment is expected in the next two month.

The Board has appointed Waradi to carry out the functions of the CEO, as well as those of Chairman, until a new CEO is in place.

Bavoro could not be reached for a comment this afternoon.