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Chuks Udo Okonta
The Management of Sovereign Trust Insurance (STI) Plc has announced the elevation of its erstwhile Executive Director and Divisional Head,Technical, Olaotan Soyinka, to the position of Managing Director/Chief Executive Officer following the retirement of the hitherto Managing Director/CEO, Wale Onaolapo in December of 2015.
Onaolapo, who meritoriously served the organisation for 21 years, has since taken his exit from the Underwriting firm. The Board has equally ratified the appointment of the new Managing Director/CEO and he has assumedoffice since January, 2016.
Soyinka’s elevation was greeted with cheer and admiration from his colleagues for a man who has contributed immensely to the continued growth of the organization in the last 18 years of joining the organization.
Head of Corporate Communications & Brand Management for Sovereign Trust Insurance Plc, Segun Bankole, at a media parley, expressed great pleasure at the seamless and smooth transition of baton in the organization.
He said the development is a testament to the successful implementation of the succession plan framework that the organisation had put in place over the years.
It will be recalled that the immediate past Managing Director/CEO, Wale Onaolapo took over from Seun Ajayi, the pioneering Managing Director/CEO in 2009, when he became the Vice Chairman of the organization after retiring to his private business at the wake of 2009.
The Spokesperson further stressed that, “the company possesses the potentials of becoming a formidable pacesetter in the Insurance industry in the country and beyond as he equally canvassed for support from all and sundry in making the ambition of the Underwriting Firm a reality.”
Soyinka is an erudite and well-grounded Underwriter with over 20 years cognate experience. He is an Associate of the Chartered Insurance Institute of Nigeria. He is a Graduate of Insurance from University of Lagos and also holds a Masters of Science degree in Marketing from the same university.
He joined Sovereign Trust Insurance Plc in March 1998. A seasoned Professional who has plied his trade in both Marketing and Technical Divisions of the organization is expected to bring his overwhelming wealth of experience to bear in providing instructive leadership to the company while taking it to the next phase of its growth stage.
Soyinka is an alumnus of the Lagos Business School having successfully completed the Senior Management Programme of the Institution. He is also a member of the prestigious Ikoyi Club 1938.