A rapid overhaul at Ethiopia’s state-owned Development Bank has claimed one of its longest-serving executives, with Getachew Wake leaving his post as vice president effective December 26, Addis Fortune reported.

The leadership reset began at board level earlier this month, when Brook Taye (PhD), chief executive of Ethiopian Investment Holdings, was appointed chairperson of the bank, replacing former central bank governor Teklewold Atnafu. Brook’s arrival has coincided with reported disagreements over senior appointments and lines of authority, triggering a broader reconfiguration of the institution’s governance.

Management changes have since followed. Essayas Kassa (PhD) has been named president of the Development Bank of Ethiopia, succeeding Emebet Melese (PhD). Essayas previously served on the founding executive team of the Ethiopian Capital Markets Authority under Brook’s leadership, a connection that points to a closer alignment between the new board and executive leadership.

Against this backdrop, Getachew’s departure marks the most prominent exit to date. He spent more than twenty years at the bank, holding a range of senior positions and becoming one of the most enduring figures in its top management.

In a formal statement cited by Addis Fortune, Brook acknowledged Getachew’s long service to the institution and confirmed that he had stepped down from the vice presidency.