In a significant corporate development, International Energy Insurance Plc (IEI) has announced a major change in its top leadership. The company confirmed the resignation of its Managing Director and Chief Executive Officer, Olasupo Sogelola, marking the end of an important era for the insurer.
A Chapter Closes: Sogelola's Tenure and Achievements
Mr. Sogelola's departure concludes a pivotal chapter in the company's ongoing transformation. Under his leadership, IEI achieved several critical milestones that have reshaped its future. The company successfully secured its relisting on the Nigerian Exchange (NGX), a major step towards enhancing its market presence.
Furthermore, the insurer managed the full repayment and exit from the long-standing Daewoo loan, a move that significantly improved its financial standing. These efforts, supported by the Norrenberger Financial Group, led to renewed financial stability and operational efficiency for IEI, culminating in multiple industry awards for service excellence and corporate governance.
A New Leader Steps In
Following this leadership transition, the board has moved swiftly to ensure continuity. Dr Joyce Odiachi has been appointed as the Acting Managing Director. This appointment is effective immediately and will stand until a substantive Chief Executive Officer is named.
Dr Odiachi is a highly respected insurance executive and a fellow of the Chartered Insurance Institute of Nigeria (CIIN). She brings a wealth of experience to the role, with a career spanning more than two decades across various sectors. Her expertise covers critical areas such as:
- Risk management
- Compliance and corporate governance
- Technical operations
She is widely recognized in the industry for her instrumental role in driving operational reforms, strengthening governance systems, and supporting successful turnaround efforts in various organizations.
The Path Forward: Recapitalisation and Growth
The appointment of Dr Odiachi is expected to provide the stability needed as IEI advances into its next phase of strategic growth. A key immediate focus for the company is the preparation for a planned N22 billion recapitalisation programme.
This ambitious programme is aimed at deepening the company's market competitiveness and ensuring it is well-positioned for future opportunities. Under the steady ownership of the Norrenberger group, IEI is poised to build on its recent gains and continue its trajectory of improvement and industry leadership.
