The short: Risevest CEO Eke Urum steps down in light of allegations of abuse of power and sexual impropriety.
Full disclosure: I’m an early investor in Risevest. I had a quick chat with Urum, who says he’ll stay silent until the investigation is over in two weeks.
Stepping aside: The company said in a statement on Tuesday that Eke Urum, the founder and CEO, had been asked to step down as investigations were ongoing.
The investigation: In the statement, Risevest says:
In light of allegations of abuse of power and sexual impropriety, Eke Urum willingly agreed to step aside as CEO of Risevest to allow for a 6-week investigation, set up by Risevest’s investors, to run its course.”
Business as usual: In the meantime, Risevest’s head of operations, Tony Odiba, will serve as interim CEO.
We want to assure our stakeholders and the general public that we continue to operate optimally as a company, and our customers will continue to enjoy the highest quality of services and support.” Risevest stated.
Track record: Last year, Former Risevest employee Efe Uduigwomen accused the CEO of fostering a toxic workplace where criticism was not welcome. In addition, she accused Urum of firing her for refusing to work from the office due to COVID concerns, even though her contract permitted that.
Urum denied the allegations calling them “blatant half-truths”, but accepted responsibility and apologised a few days later.
Final thoughts: Allegations like these are hard to come back from as a CEO. Urum appears to be in the dark over who brought this case against him. – he’d find out in two weeks like the rest of us.
We’ll see what’s about to happen next.