Stanbic IBTC Holdings Plc has announced the appointment of Kunle Adedeji as the acting Chief Executive Officer (CEO) following the retirement of Demola Sogunle, effective October 31, 2024. Sogunle, who has spent nearly 35 years with the company, has been praised for his contributions to the growth and success of the organization. The announcement, made by Chidi Okezie, the company’s secretary, commended Sogunle’s visionary leadership and dedication throughout his tenure.

Sogunle has held several key positions within Stanbic IBTC over the years, including CEO of Stanbic IBTC Pension Managers Limited and deputy CEO of Stanbic IBTC Bank. In 2020, he was appointed CEO of Stanbic IBTC Holdings, a role in which he has continued to steer the organization through various challenges. His leadership has been instrumental in the development of Stanbic IBTC Group, and the Board of Directors expressed its gratitude for his commitment and service.

Taking over the role of acting CEO from November 1, 2024, Adedeji currently serves as the Chief Financial and Value Management Officer. He brings over 25 years of banking experience and a proven leadership track record within the organization. According to Stanbic IBTC, Adedeji’s expertise and experience make him well-suited for the role. He holds an MBA in Finance from the University of Lagos and a Doctor of Business Administration (DBA) from SBS Swiss Business School in Switzerland.

One common mistake during leadership transitions is underestimating the importance of continuity. To avoid disruption, it is crucial to ensure smooth communication between outgoing and incoming leaders, as Stanbic IBTC has done by appointing a qualified internal candidate like Adedeji.