Zenith Bank Plc has announced the appointment of Dr. Adaora Umeoji as its new Group Managing Director, effective June 1, 2024.

In a statement released by the bank's Company Secretary, Michael Otu, and filed with the Nigerian Exchange Limited on Tuesday, it was revealed that Dr. Umeoji's appointment is subject to the approval of the Central Bank of Nigeria.

The news of Dr. Umeoji's appointment has generated excitement within the minority shareholders community, with many lauding the move as forward-thinking.

Matthew Akinlade, President of the Noble Shareholders Association, expressed his satisfaction with Dr. Umeoji's qualifications, stating, "The woman is eminently qualified. I have been going through her profile, even her experience with Zenith Bank. I have never met her, but going through her profile, I felt satisfied." Akinlade also emphasized the importance of improved dividend payments under Dr. Umeoji's leadership.

Bisi Bakare, President of the Pragmatic Shareholders Association, welcomed the appointment, saying, "As an investor and as a woman, I’m happy about the development in Zenith Bank of promoting her from Deputy Managing Director to Group Managing Director. I’m very happy with it and I wish her the best of luck." Bakare also expressed shareholders' expectations for better returns during Dr. Umeoji's tenure.

Dr. Anthony Omojola, the immediate past National Coordinator of the Independent Shareholders Association of Nigeria, highlighted the increasing presence of women in the banking sector and commended Zenith Bank for appointing Dr. Umeoji. He stated, "Women are taking over the banking space now. The women folk have arrived and Zenith Bank doesn’t seem to want to be left behind, so they appointed a woman."

Dr. Umeoji, who has close to 30 years of banking experience, previously served as the Deputy Managing Director of Zenith Bank since October 28, 2016. She holds multiple degrees and certificates from prestigious institutions around the world, including Harvard Business School, Columbia Business School, and the University of Salford.

With Dr. Umeoji's appointment, Zenith Bank reinforces its commitment to executive transition, succession planning, and grooming leaders from within the organization. As the first female Group Managing Director in the bank's history, Dr. Umeoji is poised to lead Zenith Bank to new heights of success and innovation.

Congratulations poured in for Dr. Umeoji as she prepares to take over from the outgoing GMD, Dr. Ebenezer Onyeagwu, whose tenure ends on May 31, 2024. As a respected leader in the banking industry and the founder of the Catholic Bankers Association of Nigeria, Dr. Umeoji's appointment marks a significant milestone for both Zenith Bank and the Nigerian banking sector.