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The outgoing CEO of Ethiopian Commodity Exchange (ECX), otherwise known
as the mother of ECX, Eleni Gebremedhin (PhD) announced last week that
she already pledged to keep rendering her service for one more year to
the stock market business.
Two weeks after official report of her resignation, the newly appointed
CEO, Anteneh Assefa had discussion with representatives of traders of
ECX a day earlier before he was introduced to the entire staff members
the commodity exchange as he sees the official beginning of his new
tenure as of 2nd July of this year.
During the introduction day
held on Friday, the Board Chairman of ECX, Addisu Legesse who was former
Deputy Prime Minister and Minister of Agriculture and Rural Development
(MoARD) spoke that the process of managerial transition at ECX has been
carried out based on the plan and contemplation that was set earlier
during the initial foundation of the commodity exchange.
Board Chairman also underplayed the speculation that rumors claimed
Eleni’s resignation was allegedly “politically motivated. He called the
speculation as “non-existing speculation”.
Speaking on the
appropriateness and capability of the newly appointed CEO to the
position, Adis said “Before we approved Anteneh’s candidacy for the
position of chief executive, we board members had to make sure how
trustworthy are the candidacy’s reports presented on him followed by a
discussion with him to examine whether he is fit enough to the post”.
was fully willing to extend her service at a consultant until June
2013, Addisu indicated adding, it is government’s interest to see the
stock exchange continues strengthening its service and efficiency.
about her stay in ECX, Eleni confirmed to The Reporter that she agreed
with the board members to keep consulting the commodity exchange for the
next one more year.
ECX is founded by her initiative after a series of lobbying and managing to convince PM Meles Zenawi.
last five years since her initiative was realized and introduced to the
business for the first time in African soil, Eleni was successfully
leading the commodity exchange which eventually brought her reputation
and prominence in her country as well as across the international arena.
By DAWIT TAYE