Appointment of New Group Chief Executive Officer

Sir Wilson Kamit CBE, Chairman of the Board of Credit Corporation (PNG) Ltd today announced the appointment of Mr. Peter Aitsi as Chief Executive Officer for the Credit Corporation group of companies, subject to Fit & Proper requirements of the Bank of Papua New Guinea.

Mr. Aitsi is very well known in the Papua New Guinea business community. He is well respected and highly regarded as an effective and strong leader, with extensive experience in PNG’s private sector including Banking & Finance, Media, and Mining.

Sir Wilson said, “The Board of Directors are delighted that Mr. Aitsi is joining the Group and we are very confident in Peter’s ability to lead Credit Corporation and its subsidiaries through its next stage of growth. The Board also acknowledges the Acting CEO, Mr. Peter Dixon for his leadership and support to the Board in the interim.”

Mr. Aitsi has been Country Manager for Newcrest Mining for the past seven years and is expected to take over his new role as CEO of Credit Corporation by the close of the first quarter.

Mr. Aitsi said, “I look forward to joining Credit Corporation, and working closely with the Board and management team to generate further value for our shareholders and clients.”

Mr. Peter Dixon, who has been Acting CEO since November 2017 congratulates Mr. Aitsi on his appointment, and on behalf of the Credit, Corporation team looks forward to working closely with him to take the Credit Corporation group forward.