The former MD of Zenith Bank now CBN Governor designate has finally handed over to a new CEO as he prepares to take over the helm at the apex bank.
Many will look back and say he has done quite well. But as shareholders we can also judge by how well the stock has performed. He became MD in August 2010 and at the time Zenith Share price was averaging N13. He leaves the bank at a share price of N12 representing a 61% increase over the last 4 years or 15% annualised.
The current share price has risen 12% in the last one year and at his last AGM share price was just about N21. Numbers don’t lie and whilst we will remember him for taking Zenith Bank to the top of banking in Nigeria in 2013 in terms of profitability we won’t forget the fact that the share price returns wasn’t all that spectacular.