Following the commencement of the 10-year tenure limit for managing directors and executive directors in insurance companies, Leadway Assurance Company Limited has announced a leadership transition in compliance with the regulatory stipulations of the National Insurance Commission.
The company, in a statement, announced the appointment of Mr Gboyega Lesi as its new Managing Director/Chief Executive Officer with effect from January 1.
It also appointed Mrs Oluwafunmilayo Amanwa as the Executive Director of Technical and Operations.
The firm stated that they succeeded the previous directors who exceeded the stipulated 10-year tenure in their respective positions.
It added that the new appointments were subject to the requisite regulatory approval from NAICOM.
“This strategic decision underscores Leadway Assurance Company Limited’s dedication to upholding the highest standards of corporate governance and compliance with regulatory guidelines. The board expresses its trust in Mr Gboyega Lesi’s leadership skills, which have been cultivated through close collaboration with Mr Tunde Hassan-Odukale over the years,” the statement read.
Leadway Assurance was founded by Dr Hassan Odukale in 1970 but started business operations a year later.
Commenting on the appointment of his successor, Hassan-Odukale, who is a son of the founder of the company, remarked, “I have confidence in Gboyega Lesi’s leadership, and I believe that his nearly three decades of expertise and experience in the industry will play a crucial role in guiding the company towards sustained success and growth in the West African insurance market.
“Lesi, a seasoned professional with extensive experience, is well-equipped to lead the company into its next phase of growth. His strategic vision and profound understanding of the industry make him an ideal successor to steer Leadway Assurance on its path to continued success.”
