Colorado’s former governor resigns from board of Russian bank

Former Colorado Gov. Bill Owens has resigned from the supervisory board of one of Russia’s largest banks.

The Republican told The Colorado Sun that he formally resigned from his position in an email sent Sunday but that he “made the decision several days ago.” He said he needed to delay his announcement until he had spoken to each board member.

Owens was chairman of the supervisory board for the Credit Bank of Moscow, which is investor-owned. He had been on the supervisory board since November 2012 and has been chairman since April 2013.

“Each of you receiving this is truly like family — together, over the past ten years, we have worked as one to build Russia’s finest bank through a commitment to honesty, transparency and good governance,” Owens wrote in his resignation email, which he shared with The Sun. “But now — due to decisions made by others which none of us either expected or support — it is time for me to step down and stand instead with my country and Ukraine. It has truly been my honor to serve with you and to be able to continue to call each of you my close and personal friend.”

Owens, who was Colorado’s governor from 1999 to 2007, told The Sun on Friday that he would resign from the board if the U.S. were to sanction the Credit Bank of Moscow. The bank was never sanctioned, but Owens stepped down anyway.

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