Zenith Bank Plc has announced the appointment of Dr. Adaora Umeoji as its new Group Managing Director, effective June 1, 2024. The disclosure was made in a statement signed by the Company Secretary, Michael Otu, and filed with the Nigerian Exchange Limited on Tuesday.
Dr. Umeoji will succeed the current GMD, Dr. Ebenezer Onyeagwu, whose tenure expires on May 31. Her appointment marks a significant milestone for Zenith Bank as she becomes the first female GMD since the inception of the bank. The statement highlighted that her appointment is in line with the bank’s executive transition tradition, succession plan, and strategy of grooming leaders from within.
Prior to her appointment, Dr. Umeoji served as the Deputy Managing Director of Zenith Bank since October 28, 2016, bringing nearly 30 years of banking experience to her new role, with 26 years of dedicated service to Zenith Bank.
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Dr. Umeoji holds an impressive educational background, having pursued advanced management programs at prestigious institutions such as Harvard Business School and Columbia Business School. She obtained bachelor’s degrees in sociology and accounting, as well as a first-class honors degree in law from Baze University, Abuja. Additionally, she holds a Master of Laws from the University of Salford, UK, and a Master of Business Administration from the University of Calabar. She also earned a doctorate in business administration from Apollos University, USA, and has furthered her education with certificates from MIT Sloan School of Management and Wharton Business School, among others.
With her wealth of experience and diverse educational background, Dr. Umeoji is poised to lead Zenith Bank into a new era of growth and innovation. Her appointment not only adds to the ranks of female bank MDs in Nigeria but also marks a significant milestone as she becomes the first female MD of Zenith Bank.
Zenith Bank, one of Nigeria’s leading financial institutions, boasts large asset banks and is a member of the elite club of banks with a market value exceeding N1 trillion. As of Tuesday’s trading session, Zenith Bank’s market capitalization stood at N1.19 trillion, with its shares priced at N38.1 per unit. Dr. Umeoji’s appointment underscores the bank’s commitment to excellence and diversity in leadership, positioning it for continued success in the dynamic Nigerian banking industry.
