Massive shake-up in GTbank as race for new CEO hots up

A major management restructuring is at the final stages of completion at Guaranty Trust Bank, one of Nigeria’s commercial banks as the MD/CEO, Segun Agbaje prepares to retire and proceeds as MD/CEO of the bank’s Holding Company.

GTBank board, which Agbaje heads, has been paving the way by reportedly forcing the retirement of some executive directors who had been mentioned to be in the race for Agbaje’s seat.

As part of the management restructuring already in effect, two of the oldest and revered Executive Directors of the bank have already been asked to retire after illustrious years of service to the bank.

It was gathered that a clean sweep of top management staff above the age of 45 has been effected as Agbaje is expected to leave following the end of his 10-year tenure as Managing Director of the bank.

Already, four General Managers out of nine have been asked to exit the bank paving the way for younger executives mostly under the age of 45 to take charge.

According to multiple sources, the bank is set to announce Miriam Olusanya as its new Managing Director.

In an internal memo dated April 28, 2021, Thomas John was appointed Managing Director of GTB West Africa while Bayo Veracruz was appointed Managing Director of GTB East Africa.

Others are Olayinka Odusote as Divisional Head, Digital Banking, and an important position considering the bank’s ambition to transform into a full-fledged digital bank. Ijeoma Esemudje is appointed Divisional Head Corporate Bank Mainland & Agric.

GTBank last year announced that Agbaje would be retiring from the bank after 10 years, this has paved the way for Miriam Olusanya to become the new managing director of the bank.

Earlier, the shareholders of GTBank Plc had approved the holding company structure for the bank as they expressed excitement over the benefits they would derive from the new structure.

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