Wondimagegnehu Negera, former Chief Executive Officer (CEO) of Cooperative Bank of Oromia has been appointed as the new CEO of Ethiopian Commodity Exchange (ECX) by the Board of Directors. The appointment was made after Ermias Eshetu left the CEO position and left it vacant 2 month back.
Ermias served at the position for 2 and half years. Upon his resignation it was Belay Gorfu that filled the position as acting CEO.
The new CEO is said to have more than 2 decades of experience in the banking industry. He has also worked as the head of Oromia State Trade & Market Development Bureau for the past one year. He was with Cooperative Bank of Oromia for 4 years as president until he was removed by the National Bank of Ethiopia (NBE) back in September 2015. The central bank removed him on the grounds of mishandling foreign currency transactions, an allegation put on along with his deputies and the then board chairman of the Bank.