Thrive Agric CEO, Uka Eje announced via his Twitter account that he has stepped down from his role as Chief Executive Officer. Adia Sowho resumes as the company’s interim CEO.
This news is coming days after the company faced renewed allegations from its subscribers about its defaulting of payments. And as it stands, there are talks about the company might face legal action from them.
Dear Subscribers and Stakeholders of @thriveagric.
I write to you to share additional news regarding the delayed payouts at Thrive Agric caused by the COVID-19 Pandemic.
— Uka Eje (@EjeUka) October 8, 2020
Having released several statements trying to appease customers and investors, Thrive Agric has gone a step further by making organisational changes to help the business thrive.
Eje who founded the agro-crowdfunding platform with Ayodeji Arikawe in 2017 and has led the company since then will now become its chief operating officer (COO).
Sowho who has worked as a consultant for Deloitte Consulting and director, Digitial Business for Etisalat Nigeria becomes the startup’s interim CEO.
She moved into the startup scene in 2018 when she became the Managing Director, Nigeria and VP, Growth of fintech startup, Migo. However, she left the company six months ago.
As the interim CEO, Eje says she’ll guide the company through “a turnaround exercise so that we survive the effects the COVID-19 pandemic has had on the business.”
Similarly, the company has appointed a chief financial officer (CFO) who comes with significant experience in finance and a new head of Risk Management and Compliance.
While Eje will no longer run the company’s day-to-day operations, he is said to learn under Sowho for now.
Eje also had this to say.
“I sincerely express my apologies to all Thrive Agric subscribers, partners, and investors for the lapses in communication in the past months. We are committing to maintaining effective communication on the state of things with Thrive Agric to all stakeholders in order to regain confidence as we ensure all subscribers get paid fully.
This delay in payouts is not what we intended in our mission to create a food-secure Nigeria. We hope for your continued patience as we continue to engage with you in the next few days as we roll out the changes to get us back on track.”
