The 6-week investigation into abuse of power and sexual impropriety allegations brought against Eke Urum has been completed and a statement released on the outcome.
We reported in August this year that Risevest CEO, Eke Urum agreed to step aside to allow for the independent investigation set up by Risevest investors comprising of Tomi Davies of TVC Labs, Odunoluwa Longe of TLP Advisory and Toun Tunde-Anjous of The People Practice
According to an official statement released on the company’s Twitter page, the extensive investigation involved 49 interviews with team members and ex-employees and it found that “Eke Urum engaged in behaviour inconsistent with Risevest’s standard for team members and the company’s culture of team, equality and trust.”
Techcabal had already reported earlier that the investigation found him guilty of sexual impropriety and abuse of power.
According to a statement reportedly shared with TechCabal, “The evidence presented to the panel could not prove sexual assault by Eke Urum. However, the evidence presented to the panel including admitted sexual relations with an employee and unwanted, inappropriate jokes and conversations revealed sexual impropriety. It also showed a pattern of abuse of power, intimidation, retaliation and workplace bullying by him.”
Techcabal added that Toun Tunde-Anjous shared that the panel recommended that Urum should not be reinstated as CEO. Instead, Tony Odiba, the acting CEO, will remain in that capacity until the newly constituted board appoints the next CEO. Urum will transition into a non-executive member of a new board and will lead the startup’s investment strategy and provide guidance on technology.”
The official statement from the company stated the company was taking the following immediate actions to ensure that such occurrences can be prevented and reported in the future.
- Risevest will initiate conversations with its shareholders to improve corporate governance at the company.
- Tony Odiba will continue as acting CEO
- Risevest will hire a cheif People Officer to ensure that our people processes are designed and handled to the highest standards of professionalism and care
- Risevest will carry out an audit of our company culture and workplace processes to identify opportunities to improve how it manages its teams
The statement ends by apologising for the effect of the incident on people involved.
Eke Urum in response to the investigation’s findings said that “As a leader, I have grown a lot over the years and still have a lot of growing to do, which is why I’m going to be taking additional coaching and executive training. I regret the distraction that my actions may have caused and fully respect the integrity of the process the Risevest investors and the panel underwent to identify the gaps in our systems and my leadership.”
