International Energy Insurance Plc (IEI) has announced a leadership transition following the resignation of its Managing Director and Chief Executive Officer, Mr Olasupo Sogelola, effective November 12, 2025.
The company disclosed the development in a notice to the Nigerian Exchange Limited on Monday, stating that Dr Joyce Odiachi, currently serving as Executive Director, Technical, will assume the role of Acting Managing Director/CEO while the board searches for a permanent replacement.
In its official statement, IEI said it “wishes to notify Nigerian Exchange Limited, the shareholders and the investing public of the resignation of Mr Olasupo Sogelola as the Managing Director/Chief Executive Officer (MD/CEO) of the Company with effect from 12th November, 2025.”
The company added: “Further to the resignation of the MD/CEO, Dr Joyce Odiachi, the Executive Director, Technical, will be the Acting Managing Director/CEO pending the appointment of a substantive MD/CEO.”
The insurance firm did not provide details regarding the reasons for Mr Sogelola’s departure or the timeline for appointing a permanent successor.
Dr. Odiachi’s appointment as acting chief executive represents a continuation of leadership from within the company’s existing management structure, potentially providing stability during the transition period. As Executive Director, Technical, she has been part of IEI’s senior leadership team responsible for technical operations and underwriting matters.
International Energy Insurance Plc is listed on the Nigerian Exchange and specialises in providing insurance solutions for the energy sector and other commercial lines of business.
News.ng reports that the company closed Monday’s session on the Nigerian Exchange (NGX) at ₦2.72 per share. The stock has recorded a strong upswing since the start of the year, rising from ₦1.70 to its current price—a 60% year-to-date increase—placing it 70th among the NGX’s top performers so far.
Over the last three months (August 19 to November 17, 2025), the company has also maintained an active presence on the trading floor. During this period, International Energy Insurance ranked as the 81st most traded equity, with investors exchanging 52.5 million shares valued at ₦162 million across 2,000 transactions. Daily activity averaged about 832,828 units, with the highest single-day turnover—6.41 million shares—recorded on August 27.
