Nigeria's Access names new head after CEO's death in helicopter crash
TLDR
- Bolaji Agbede appointed interim CEO of Access Corporation following Herbert Wigwe's untimely death.
- Appointment aligns with company's succession planning practices.
- Access share price declined 6.26% after news of Wigwe's passing.
Access Corporation, the parent company of Nigeria's largest bank by assets, Access Bank, has appointed Bolaji Agbede as interim CEO following the untimely death of Herbert Wigwe, who served as the CEO. This appointment was confirmed in a statement by Access Holdings on Tuesday morning.
Abubakar Jimoh, chairman of Access Holdings, stated in the announcement published on the NGX that the appointment of Agbede aligns with the company's robust succession planning practices. Jimoh expressed confidence that Agbede, being the most senior executive at the company, would provide the necessary leadership to guide the company towards achieving its strategic vision.
The share price of Access declined 6.26% on Monday following the tragic news of Wigwe's passing. Wigwe, along with his wife, son, and three other passengers, including Abimbola Ogunbanjo, the former chairman of the Nigerian Exchange Group (NGX), were aboard a Eurocopter EC130 helicopter, according to the US Federal Aviation Administration, en route to Las Vegas.
Key Takeaways
According to the NGX filing, Bolaji Agbede previously served as Access Bank's most senior founding executive director in charge of business support before her recent appointment as interim CEO. However, Access Bank stated that her appointment is subject to approval from the central bank. The corporate world often encounters such challenging times, and the passing of Dr. Herbert Wigwe represents a significant loss for Access Holdings Plc. Nonetheless, the appointment of Ms. Agbede is viewed as a strategic move aimed at ensuring stability and continuity in the company's leadership. Her wealth of experience and leadership style are anticipated to navigate Access Holdings Plc through this period of transition effectively.
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