Cornerstone CEO resigns barely three months as Chairman
Mr. Paul Kokoricha Chairman of the Board of Directors of Cornerstone Insurance Plc has resigned barely three months after his appointment as the company’s chairman.
About 10 years ago, the company’s former Chairman, Mrs. Babington Ashaye, resigned barely 16 months in office,.
Kokoricha was appointed in March 2017 as new chairman of the Board of Cornerstone Insurance Plc following the resignation of Mr. Adedotun Sulaiman as the Chairman of the Board.
Announcing the appointment of Kokoricha as chairman of the company on 27 March 2017, the company said “Cornerstone Insurance PLC hereby announces the resignation of Mr. Adedotun Sulaiman as the Chairman of the Board of the Company.
The Board expresses its profound gratitude to Mr. Adedotun Sulaiman for his service to the Company and wishes him the best in his future endeavours.
Cornerstone Insurance PLC further wishes to announce the appointment of Mr. Paul Kokoricha as the new Chairman of the Board. Mr. Paul Kokoricha is an Executive Partner at African
Capital Alliance and has several years of experience in all aspects of private equity investment management. We trust that he would make significant contribution to the Company in his role as Chairman.”
The insurance company though had earlier announced resignation of its chairman, in the first week of May, wished the chairman appointed three months ago, farewell and luck in his future endeavours, and appointed a new chairman.
Daily Times recalls that The Managing Director\Chief Executive Officer of Cornerstone Insurance Plc, Mrs. Funmi Babington-Ashaye, resigned her appointment with the company in 2007, barely 16 months in office. Mrs. Babington-Ashaye did not disclose her reason for wishing to leave the position she had occupied for the past 16 months.
