International Energy Insurance Plc (IEI) has announced a significant leadership transition following the resignation of its Managing Director and Chief Executive Officer, Olasupo Sogelola.
The resignation took effect from November 12, 2025, marking the end of an era that saw the company achieve remarkable turnaround success.
Leadership Transition Details
Under Mr. Sogelola's stewardship, IEI Plc recorded substantial achievements that highlighted its transformation story and renewed market strength. His tenure represented a pivotal chapter in the company's history, characterized by significant growth, operational resilience, and strategic advancement.
In response to this leadership change, the Board of IEI Plc has moved swiftly to appoint Dr. Joyce Odiachi as the Acting Managing Director. This appointment serves as an interim measure while the company searches for a substantive Managing Director and Chief Executive Officer.
New Leadership Profile
Dr. Joyce M. Odiachi brings an impressive portfolio of qualifications and experience to her new role, including a Ph.D. and professional designations as FIIN and FRMN. Her career spans over twenty years, featuring extensive cross-functional expertise in multiple critical areas.
Her professional background includes deep knowledge in risk management, compliance, technical operations, relationship management, and corporate leadership. Throughout her career, Dr. Odiachi has demonstrated consistent ability in strengthening operational frameworks, enhancing governance systems, and driving performance-focused transformation within complex insurance environments.
Known for her strategic clarity and technical sophistication, she has played instrumental roles in facilitating organizational turnarounds and elevating professional standards across Nigeria's insurance industry. Her previous senior management positions within the sector provide her with substantial expertise and strategic insight that will ensure continuity and stability during this transition period at IEI Plc.
Recent Corporate Achievements
The leadership transition occurs during a period of significant accomplishment for IEI Plc. In recent years, the company has successfully achieved several major milestones that underscore its financial and operational recovery.
The company successfully relisted on the Nigerian Exchange (NGX), a move that signaled restored investor confidence and compliance with market standards. This relisting represented a crucial step in reestablishing the company's presence in Nigeria's financial markets.
Another major achievement involved the complete exit of the Daewoo loan, marking a critical milestone in IEI's financial restructuring journey. This strategic move has paved the way for a healthier balance sheet and more sustainable operations moving forward.
The company is now actively preparing for its recapitalisation programme, with plans underway for an ambitious ₦22 billion capital raise. This initiative reinforces IEI's commitment to growth and market leadership within Nigeria's competitive insurance sector.
These strategic strides have been made possible under the guidance and support of Norrenberger Financial Group, IEI Plc's parent company and major stakeholder. The group's strategic support has been instrumental in driving innovation, operational efficiency, and long-term value creation throughout IEI's transformation journey.
The market has taken note of IEI Plc's remarkable transformation. The company has earned industry recognition through multiple awards for excellence in service delivery and corporate governance, further cementing its reputation as a trusted, forward-thinking insurer positioned for future success.
