TheCable

The Nigerian Exchange Group Plc (NGX) has announced Temi Popoola as its general managing director (GMD) and chief executive officer (CEO).

In a statement on Friday, NGX Group said Popoola’s position is effective from January 1, 2024.

The financial market firm said the appointment follows the approval of the Securities and Exchange Commission (SEC).

Popoola will replace Oscar Onyema, whose tenure as GMD and CEO will end on March 31, 2024, following the commencement of his terminal leave on January 1, 2024.

Onyema was appointed group GCEO upon completion of its demutualisation in 2021 by NGX.

Popoola is currently the CEO of Nigerian Exchange Limited (NGX) and a member of the NGX Group executive committee chaired by Onyema.

According to the statement, Jude Chiemeka, executive director and head of the capital markets division, responsible for trading, product development and listings at NGX Group, will take over from Popoola as acting CEO of NGX Limited effective January 1, 2024.

Commenting on the appointments, Umaru Kwairanga, chairman of NGX Group, said the changes in the leadership of the company are a testament to effective succession planning.

“I would like to express my profound gratitude to Onyema for his stellar leadership first as the CEO of the Nigerian Stock Exchange from 2011 – 2021 and thereafter as the GMD/CEO of NGX Group from 2021 -2024,” Kwairanga said.

“Onyema led the stabilization, growth, demutualisation and restructuring of the Nigerian Stock Exchange to NGX Group, a public company limited by shares, which is a significant milestone in the organisation’s history.

“He also led the listing of the company on the main board of NGX.

“I have no doubt in Mr. Popoola’s capability to successfully continue the legacy Mr. Onyema has created, and take NGX Group to greater heights.”

Kwairanga said he firmly believes in the ability of Chiemeka to seamlessly assume leadership at NGX from Popoola, building upon his impressive achievements and fostering continued growth in the capital market.

In his response, Onyema expressed gratitude for the privilege to have led NGX Limited as its CEO and later, NGX Group as its GMD and chief executive.

“As I step into a new phase, I am committed to ensuring a smooth transition and look forward to witnessing the continued growth and prosperity of NGX Group under Mr. Popoola’s leadership. The future is indeed promising, ” he said.

Also speaking on his appointment, Popoola said he is stepping into the new role at NGX Group “with a deep sense of responsibility and enthusiasm. I extend my appreciation to Mr. Onyema, for his exceptional leadership during his tenure and to the board of directors for the confidence reposed in me”.

“I am also very confident in Mr. Chiemeka’s ability to successfully steer the helm of affairs at NGX and propel NGX to greater heights,” he said.

Poopola said with the support of the team and in collaboration with the esteemed leadership, he is optimistic about the exciting opportunities and challenges that lie ahead.