BY Haleem Olatunji
Venia Group, a venture creation and development company, has announced the appointment of Adebowale Banjo as its new chief executive officer (CEO).
In a statement on Wednesday, the company said Banjo will take over from Kola Oyeneyin, the company’s founder, in 2021.
Oyeneyin will proceed to take an active role at Volition Capital, a private equity firm, where he is co-founder and partner.
Prior to his appointment, Banjo served as general manager for Venia Group. He had also led AutoGenius, the company’s insurtech arm.
The group said the development is in line with the company’s succession plan and opportunity for growth.
“This change provides an opportunity for growth and expansion within Venia. It is also a testament of our thorough succession planning that we are able to appoint Adebowale, who prior to his appointment, served as the General Manager for Venia Group,” the company said.
“Adebowale Banjo had previously led AutoGenius – the Group’s insurtech arm. This change in organizational leadership will ensure continuity in the growth of the current businesses while exploring and creating new verticals for the organization.”
According to the firm, Banjo is a skilled professional in business development, strategy, operations and product development, with a track record of increasing revenue and optimizing profit through operational efficiency and increased productivity.
It said Oyeneyin will move on from the day-to-day running of the group, but remains on Venia’s board as chairman.
The company said it will continue to create and develop ventures, with business interests cutting across sectors, while focusing on disruptive ideas that leverage technology, innovative design and service to achieve both product differentiation and market penetration.
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