The Board of Polaris Bank Limited has announced the appointment of Innocent C. Ike as its new Acting Managing Director/CEO, as a replacement for Tokunbo Abiru, who will be proceeding on his retirement, having successfully completed his two terms of two years each; first as Group Managing Director/CEO, Skye Bank Plc and Managing Director/CEO Polaris Bank Limited.
A statement from the Company Secretary Babatunde Osibodu on Saturday explained that the action was in line with the “culture of good corporate governance and succession planning” and that the appointment will take effect from September 1, 2020.
“The incoming Acting Managing Director/CEO was, until now, the Executive Director, Technology & Services while also overseeing the South-South/South East Directorate of the bank. Accordingly, not only has he been a pivotal part of the bank since July 2016, but a major driver of the corporate transformation journey. This gives an assurance of continuity: a definite continuation of the strategic plans and initiatives that brought the bank the successes it has recorded till date.
“Ike has garnered over three decades’ professional experience in the Banking Industry. He is a graduate of accounting from the University of Lagos, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Certified IFRS Expert and an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (CIBN). He holds an Executive Certificate in Strategy & Innovation from MIT Sloan School of Management Boston and he is also a Member of Institute of Directors (IOD).
“With this change of baton, the bank is set to continue to deliver on the sterling performance reflected in the full year 2019 results in which the bank posted Profit After Tax (PAT) of N27billion. To buttress the fact that this is sustainable, the bank’s first-half 2020 result showed a PAT of over N18billion, despite the tremendous headwinds brought on by the COVID-19 pandemic.”
Osibodu’s statement assured that the bank’s Board of Directors remained confident that the bank will benefit immensely from Ike’s skills and wealth of experience.
“With his hard work and diligence, the bank is bound to continue to thrive under his leadership.
“Polaris Bank is a future-determining bank committed to the delivery of industry-defining products and services across all sectors of the Nigerian economy.”
