The second quarter started with major changes in the leadership of many leading quoted companies.
A new Chief Executive Officer at Union Bank of Nigeria (UBN) Plc, Mr. Emeka Okonkwo and a new Group Managing Director at Continental Reinsurance Plc, Mr Lawrence Nazare resumed on April 1, 2021.
Okonkwo’s appointment followed the retirement of Mr. Emeka Emuwa on March 31, 2021 after eight years as Union Bank’s chief executive.
Prior to his appointment, Okonkwo was an Executive Director and Head of Union Bank’s Corporate Banking group, a position he occupied since 2013.
A seasoned banker with 30 years of experience, as Union Bank embarked on its transformation, he was responsible for rebuilding the business and strategically positioning it for success in the corporate banking space.
Okonkwo has outlined that his priority would be to accelerate growth and drive the bank’s vision of being Nigeria’s most reliable and trusted partner.
“I thank the board and management of Union Bank for the privilege of leading this great institution. Today, as I begin the task of building on the solid foundation we have laid over the past eight years, my task will be to accelerate growth and execute our vision to be Nigeria’s most reliable and trusted partner. I am confident that with the support of the board, management and employees, we will record even greater successes in this new chapter,” Okonkwo said.
Nazare, who succeeded Dr Femi Oyetunji, who retired on March 31, 2021, has also that his focus will continue to be the provision of a unique offering to clients and partners and the delivery of long-term growth and value to all stakeholders.
“Our people, our systems and processes that conform to global best practices, and our exacting standards and winning culture, are key factors that we leverage on,” Nazare said.
Chairman, Continental Reinsurance Plc, Chief Ajibola Ogunshola, Ogunshola said Nazare’s appointment, which had been approved by the National Insurance Commission (NAICOM) followed a rigorous selection process.
According to him, Nazare, a seasoned insurer, has been on the company’s executive leadership as Group Executive Director and Chief Operating Officer for over 10 years.
“With more than three decades in the industry, he brings to the role a deep understanding and experience of our business, the industry and the markets in which we operate. He is an agile and purpose-driven leader with an impressive track record of delivering consistent, high-quality performance. The board welcomes him to the role and wishes him a resounding success,” Ogunshola said.
He commended Oyetunji for his remarkable service to the group 2011, noting that he left a strong legacy of significant contributions that would live on in the company for many years to come.
According to him, the key achievements of Oyentunji included landing an aggressive strategy to position the company as a pan-African brand with a strong presence across six key geographical locations.
He noted that under Oyetunji leadership, revenue grew fivefold, profitability threefold, and productivity more than doubled, along with the transformation of the company’s culture, processes, and standards.
He said Oyetunji has collaboratively led the creation of an enabling environment for thought leadership and sound corporate governance agenda in the industry on the African continent
Oyetunji meanwhile applauded Nazare’s appointment, expressing assurance that the company will continue to prosper under the new leadership.
‘I know his commitment, and I am highly confident that Continental Re will continue to prosper under his leadership. His appointment demonstrates the strength of Continental Re’s succession planning and talent pipeline,” Oyetunji said.
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