Governor Alex Otti of Abia State extended his tribute to the late Herbert Wigwe, the former CEO of Access Bank, recognizing Wigwe’s innovative approach to mergers and acquisitions.
“You would prove bookmakers wrong, even with your “Mergers and Acquisition” mindset.,” Otti said
He added “I remember taking you up about 15 years ago quoting a research-based position that over 70% of mergers and acquisitions destroy shareholder value. Your response was that Access Bank was in the 30% category!”
Otti fondly recalled instances where Wigwe consistently surpassed expectations in the financial sector, defying predictions with his audacious mindset. Reflecting on Wigwe’s legacy, Otti underscored the late CEO’s knack for challenging established norms, especially in the realm of mergers and acquisitions.
Despite widespread skepticism surrounding such ventures, Wigwe’s unconventional approach set Access Bank apart. The governor provided insights into Wigwe’s planned itinerary before the tragic crash on Friday, revealing scheduled visits to London for a board meeting and the US before returning to Abia State.
The abrupt disruption of these plans left Otti pondering the circumstances surrounding Wigwe’s untimely departure. Wigwe’s impact on Otti extended beyond the business domain, as the late CEO played a pivotal role in encouraging the governor to pursue a career in public service.
Expressing deep sadness intensified by the loss of Wigwe’s wife and son, rare companions in his travels, Otti described the current situation as one of the saddest moments in his life. The tragic inclusion of Chizoba and Chizzy, infrequent travelers with Wigwe, further heightened the governor’s struggle to comprehend the reality of the situation.
Labeling Wigwe’s passing as an overwhelmingly significant loss, Otti offered prayers for the souls of the departed, expressing hope that they find eternal rest.