The Industrial And General Insurance Plc has appointed Mr. Rotimi Fashola as its substantive Group Managing Director/Chief Executive Officer.
According to a statement from the underwriting firm, Fashola’s appointment, which takes immediate effect, is part of the decisions taken at a meeting of the board held in Lagos and he succeeded Mr. Remi Olowude, the company’s founder and executive vice chairman, who passed on last year.
The board also named the erstwhile Executive Director, Special Risks, Mr. Sina Elusakin, as the deputy managing director, while Mrs. Foluso Gbadamosi was appointed the executive director, human resource, administration and information communication technology.
The statement noted the appointment was guided by proper corporate governance procedures and best practice, aimed at ensuring seamless business continuity, stability and growth in the interest of all stakeholders.
“With his over 20 years experience and a remarkable track record in the insurance and financial services industry, Fashola has earned a reputation as a truly accomplished and highly respected professional. The board believes that he possesses the core values upon which the IGI was founded and has the capacity to take the company to greater heights,” it added.
Prior to his new position, Fashola had served as the deputy managing director and was later appointed acting managing director when the late executive vice chairman/chief executive officer went on medical leave.
The firm said he had pledged to uphold the vision of the company and drive its growth and transformation strategies to ensure its continued competitiveness in the industry.