Lagos — The management of Sovereign Trust Insurance Plc has announced the elevation of three deputy general managers to the position of general managers as part of its succession plan and in tune with the resolve to always recognize and reward outstanding performance.

STI said in a statement that the three new positions became effective from January 1, 2013.

The newly promoted officers are Olaotan Soyinka, Divisional Head, Operations; Ugochi Odemelam, Divisional Head, Retail and Business Development; and Kayode Adigun, Divisional Head, Finance and Administration.

While commenting, the Head of Corporate Communications and Brand Management, Mr. Segun Bankole, said this is the first time in the history of the organisation that it is appointing three general managers with Ugochi Odemelam emerging as the first female general manager.

He further stated that the newly promoted officers have been very outstanding in their different portfolios over the years.

It will be recalled that the three general managers recently took charge of the three divisions that were created after the adoption of a new business model earlier in the year.

According to the Managing Director, Mr. Wale Onaolapo, the promotion is in recognition of their commitment to the company, dedication to duty and avowed belief in the corporate objectives of the organization.

"Our greatest asset in Sovereign Trust Insurance Plc has always remained our human capital and management is committed to ensuring that good performance will always be rewarded from time to time at all levels within the organisation," he said.

The managing director congratulated the newly elevated officers and urged them to continue to give their best in all they do in promoting the ideals of the company, just as he encouraged them to bring to bear their expertise and wealth of experience in achieving the organisation's goals and objectives.