Thursday, June 21, 2012

Ethiopia Commodity Exchange appoints new CEO

ECX Ethiopia
The Ethiopia Commodity Exchange (ECX) Board of Directors has appointed Anteneh Assefa, currently vice president of operation of the bank of Abyssinia, as the next Chief Executive Officer (CEO) of the Exchange.
Anteneh, with a wealth of operational and financial sector experience over the past fifteen years, will join as CEO designate on August 1, 1212.

The incumbent CEO and founder of the Exchange, Dr Eleni Gabre-Madhin, will transition out of the leadership role in the company effective September 30, 2012.

“The transition is the outcome of a succession plan carefully implemented since May 2010 to ensure the smooth handover from a team of internationally recruited management professionals who have designed, implemented and managed the day-to-day operations of ECX from April 2008 to present,” Dr Eleni told journalists.

“I am truly proud that ECX has reached this stage of maturity and this institution now stands on a firm footing, with the groundwork laid for a dynamic and talented new leadership. Our transition plan started the day we launched operations,” Dr Eleni said.
“I feel exceptionally lucky to have had a dream, had the opportunity to work with an incredible group of dedicated individuals, and to have seen the company through to the present, with the recognition and respect it now commands within our market and even internationally. I have absolutely no doubt that the future for the Exchange is as bright as ever,” she added.

Since 2008, ECX has grown its operations from a single warehouse to over 55 warehouses and to the trading of 608,000 tons in the last fiscal year and over 1.5 billion in trading value, with a market information system attracting 1.1 million phone inquiries per month and a trading system linking to 2.4 million farmers.
ECX has received numerous international awards and recognitions, including the invitation to participate in the Camp David G8 summit and the African Banker Icon Award last month.

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