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Five EDs jostle for GTBank CEO as Agbaje retires this year

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Five executive directors of Guaranty Trust Bank (GTBank) are in contention to succeed the incumbent Managing Director/Chief Executive Officer, Segun Agbaje whose 10-year tenure will expire later this year.

The five executive directors are Mr. Demola Odeyemi, Mr. Bolaji Lawal, Mr. Haruna Musa, Mrs. Miriam Olusanya, and Mr. Babajide Okuntola.

Segun Agbaje made this disclosure on Monday at an investor earnings call conference session.

According to him, the selection process, which will be concluded in the fourth quarter of 2020 is being handled by a UK-based consultancy firm.

He said further: “What we are looking for now is a Managing Director for Guaranty Trust Bank, Nigeria. The process has started, we have five executive directors and all of them are going through the process at the moment.

“We are working with a consulting firm in the UK. What we are looking for is based upon what we see for the Nigerian business, what we think the future will hold, what we think Nigerian banking will look like, we will then at the end of the process, which will end at the beginning of the fourth quarter, have a managing director for GTBank Nigeria

“We have five executive directors going through the process and one will emerge before the end of the fourth quarter. So succession for GTBank Nigeria is well under control”, he said.

He also disclosed that the bank is in an advanced stage of obtaining a CBN approval to transform to a Holding Company structure such that its subsidiaries would be expanded and divided alongside GTBank Nigeria, BTBank West Africa, GTBank East Africa and GTBank UK.

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