Absa names CFO Yusuf Omari acting CEO
Absa Kenya Chief Finance Officer (CFO) Yusuf Omari.
Absa Bank Kenya has appointed its Chief Finance Officer (CFO) Yusuf Omari as the interim Chief Executive Officer (CEO) ahead of the exit of the long-serving Jeremy Awori.
Mr Omari has served as Absa’s CFO since 2009 and will hold the position until the lender fills the position substantively.
He has also held a variety of senior positions within the bank including Regional Head of Internal Audit, Regional Head of Compliance.
Mr Omari will take over from Mr Awori who will officially exit the lender end of this month.
“Following regulatory approval, the Board of Absa Bank Kenya PLC has appointed Yusuf Omari to take over as Interim Chief Executive Officer and Managing Director effective 1 November 2022, after Jeremy Awori steps down from office on 31 October 2022,” Absa announced on Friday.
Mr Awori was last month appointed the new Group CEO of pan-African lender Ecobank Group ahead of his formal exit from Absa.
Ecobank announced Mr Awori as its new head with its current CEO Ade Ayeyemi set to exit the lender after attaining the retirement age of 60 years.
He has served as Absa CEO since his appointment in February 2013 and oversaw the lender’s successful transformation from Barclays Bank Kenya.
Absa says the appointment of insider Mr Omari will smoothen the transition from Mr Awori.
“This appointment will play a critical role in ensuring a smooth leadership transition while the Board completes the CEO succession process,” said Absa.
The interim CEO holds a Master’s in Business Administration from the Strathmore Business School and a bachelor’s Degree in Economics from the University of Nairobi.
He also holds an Advanced Management Programme (AMP) Certification from the International Institute of Management Development (IMD, Switzerland) and from Strathmore Business School in association with IESE Business School (Spain).
Mr Omari is a Fellow of the Institute of Certified Public Accountant (FCPA) and a member of the Institute of Certified Internal Auditors.
“I am confident that this appointment will help us to continue executing our strategy whilst ensuring a smooth leadership transition,” added Absa Board Chairman Charles Muchene.
