Zenith Bank Plc has announced the appointment of Dr. Adaora Umeoji as its new Group Managing Director, effective June 1, 2024.
In a statement signed by the Company Secretary, Michael Otu, and filed with the Nigerian Exchange Limited on Tuesday, the bank revealed that Umeoji will succeed the current GMD, Dr. Ebenezer Onyeagwu, whose tenure expires on May 31.
This historic appointment marks the first time a female executive will assume the role of GMD since the establishment of the bank. The decision aligns with Zenith Bank’s tradition of executive succession planning and strategy to nurture leaders from within its ranks.
Prior to her elevation, Dr. Adaora Umeoji served as the Deputy Managing Director of Zenith Bank since October 28, 2016, bringing nearly three decades of banking expertise to her new role, with 26 years dedicated to Zenith Bank.
Umeoji boasts an impressive academic background, having attended prestigious institutions such as Harvard Business School, where she completed the Advanced Management Programme, and Columbia Business School, where she obtained a Certificate in the Global Banking Program. She holds bachelor’s degrees in sociology from the University of Jos and accounting from Baze University, Abuja, as well as a first-class honors degree in law from the same institution.
Furthermore, she holds a Master of Laws from the University of Salford, United Kingdom, and a Master in Business Administration from the University of Calabar. She earned her doctorate in business administration from Apollos University, USA, and has pursued further studies at renowned institutions such as MIT Sloan School of Management and Wharton Business School, USA.
Dr. Umeoji’s appointment marks a significant milestone, as she becomes the first female Managing Director in the history of Zenith Bank and joins the esteemed ranks of female bank executives in Nigeria.
Zenith Bank, renowned for its robust asset base and esteemed position within the Nigerian banking sector, continues to uphold its reputation as one of the nation’s leading financial institutions, boasting a market value exceeding N1 trillion.
As of Tuesday’s trading session, Zenith Bank’s market capitalization stood at N1.19 trillion, with its shares priced at N38.1 per unit.