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Showing posts from September 2, 2017

Ethiopia Commodity Exchange (ECX) CEO resigns amid government scrutiny

ECX Boss Resigns By Dawit Taye The Ethiopian Reporter September 01, 2017 Ermias Eshetu, the CEO of the Ethiopian Commodity Exchange (ECX), has tendered his resignation letter to the board of directors of the trading enterprise. The resignation of Ermias stunned many as it came at a time when the CEO was attempting to restructure ECX and introduce new trading services and working procedures. Though the resignation of the CEO is not yet made public reliable sources told  The Reporter  that the board of directors of ECX is holding an in-depth evaluation on the executive management including the CEO. Sources said the rigorous evaluation has prompted the CEO to leave his position. According to sources, the board of directors of ECX has accepted the resignation letter of the CEO. However, Ermias would stay in office until the board finds a successor. According to sources, the stringent evaluation held last week lasted until 5PM in the evening. “The evaluation dwel...