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Leadership Transition at Leadway Assurance: Tunde Hassan-Odukale Steps Down, Gboyega Lesi Takes the Helm
Leadership Transition at Leadway Assurance: Tunde Hassan-Odukale Steps Down, Gboyega Lesi Takes the Helm
Leadway Assurance Limited, a prominent player in the Nigerian insurance industry, has recently undergone a significant leadership transition. On January 1, 2024, the company announced the appointment of Gboyega Lesi as its acting managing director, following the departure of Tunde Hassan-Odukale. This change comes as Leadway Assurance aligns with the National Insurance Commission’s (NAICOM) directive regarding the tenure limit for managing directors and executive directors within the insurance sector.
Gboyega-Lesi
Gboyega Lesi, the newly appointed acting managing director, brings a wealth of experience to his new role. Prior to this appointment, he served as the Executive Director of Commercials at Leadway Assurance. His elevation to the position of acting managing director is subject to the necessary regulatory approval from NAICOM.
The decision to implement a tenure-limit directive is the result of an NAICOM circular issued on November 22, 2022. This directive mandates the compulsory retirement of executive directors and chief executive officers of insurance and reinsurance companies after a maximum of 10 years in their respective positions. Additionally, the circular outlines that CEOs and other executive directors can serve for a maximum of 10 years, split into two terms of 5 years each. Furthermore, if an executive director assumes the role of CEO, their total time in both positions cannot exceed 15 years.
Tunde Hassan-Odukale, who retired from Leadway Assurance, had a distinguished 31-year tenure at the company. Having joined as an Executive Director in 1992 and subsequently assuming the CEO position in 2020, his departure marks the end of an era at Leadway Assurance.
In response to the appointment of his successor, Tunde Hassan-Odukale expressed confidence in Gboyega Lesi’s leadership abilities. He emphasized Lesi’s extensive industry experience, spanning nearly three decades, and expressed his belief in Lesi’s capacity to guide Leadway Assurance toward sustained success and growth within the West African insurance market.
Gboyega Lesi, in turn, conveyed his honor at assuming leadership of Leadway Assurance during a pivotal juncture. He acknowledged the company’s robust growth, attributing it to their customer-centric culture and distinctive approach. Lesi expressed his eagerness to embrace the challenge of building upon the company’s rich legacy and reaffirmed his commitment to delivering excellence while placing clients at the center of all operations.
In adherence to NAICOM’s regulations, Leadway Assurance also announced the appointment of Oluwafunmilayo Amanwa as the Executive Director, Technical and Operations. This appointment follows the departure of the former Executive Director, Technical Services, Adetola Adegbayi, in accordance with the tenure limit rules.
The leadership transition at Leadway Assurance signifies a new chapter for the company. As Gboyega Lesi assumes the role of acting managing director and Oluwafunmilayo Amanwa steps into the position of executive director, technical and operations, the company is poised to navigate this period of change while upholding its commitment to excellence and customer-centric service.
The industry will undoubtedly be watching closely as Leadway Assurance, under new leadership, continues its journey of growth and innovation within the Nigerian insurance landscape. The company’s dedication to upholding its values, fostering customer trust, and delivering reliable risk management support will undoubtedly remain central to its operations as it moves forward under the guidance of its new leadership team.
