Ermias Eshetu, who has been serving as the CEO of the Ethiopian Commodity Exchange since January 2015, has filed his resignation letter to the enterprise’s board of directors.
By Dawit Taye (Ethiopian Reporter)
ADDIS ABABA–Ermias Eshetu, the CEO of the Ethiopian Commodity Exchange (ECX), has tendered his resignation letter to the board of directors of the trading enterprise.
The resignation of Ermias Eshetu stunned many as it came at a time when the CEO was attempting to restructure ECX and introduce new trading services and working procedures. Though the resignation of the CEO is not yet made public reliable sources told The Reporter that the board of directors of ECX is holding an in-depth evaluation on the executive management including the CEO.
Sources said the rigorous evaluation has prompted the CEO to leave his position. According to sources, the board of directors of ECX has accepted the resignation letter of the CEO. However, Ermias would stay in office until the board finds a successor.
According to sources, the stringent evaluation held last week lasted until 5PM in the evening. “The evaluation dwelled on the performance of the trading floor (ECX) and on the issue of who should leave and who should remain in office. The CEO tendered his resignation letter in the wake of the in-depth evaluation,” sources told The Reporter.
The management of ECX declined to comment on the matter. The Reporter’s repeated attempts to reach Ermias could not be successful.
Read the complete story at Ethiopian Reporter
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