The Ethiopian Commodities Exchange (ECX) gets its fourth Chief Executive Officer (CEO) since its foundation in 2008. Wondimagegnehu Negera, former president of the Cooperative Bank of Oromia (CBO), has been appointed today by the Board of Directors of the ECX as a new chief, replacing Ermias Eshetu.
Ermias had served the Exchange for two and half years before he resigned two months ago, citing personal reasons. Belay Gorfu has been filling in as Acting CEO during the transition.
Wondimagegnehu, who has over two decades of experience in the banking industry, has been working as head of the Oromia Regional Trade & Market Development Bureau for the past one year. He had served the CBO for four years as president until he was dismissed by the central bank in September 2015. He was blamed for mishandling foreign currency transactions, an allegation put on along with his deputies and the then board chairman of the Bank.
Correction: Wondimagegnehu Negera is the fourth CEO of ECX. We have previously reported it as a third.
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