Information reaching Kossyderrickent has it that Risevest founder and CEO, Eke Urum has been found guilty of sexual impropriety and abuse of power. (Read More Here).
Urum was suspended in August after allegations of sexual and non-sexual abuse by a staff.
A statement by the company said the six-week probe could not establish sexual assault. However, the evidence showed “sexual relations with an employee; unwanted, inappropriate jokes and conversations revealed sexual impropriety”.
“It also showed a pattern of abuse of power, intimidation, retaliation and workplace bullying”, it added.
The investigation team interacted with nearly 60 former and current employees before reaching its decisions.
The panel, which comprised Tomi Davies, Odun Longe and Toun Tunde-Anjous, recommended that Urum should not be reinstated as CEO.
It took the investigation panel, comprised of Odun Longe and Toun Tunde-Anjous, and chaired by Tomi Davies, speaking with almost 60 current and former employees over the course of six weeks to reach a conclusion.
The investigation panel also recommended that a board of directors comprised of Urum, Tony Odiba, two investor representatives, and one independent member approved by both founder and investor groups, is immediately constituted. Risevest didn’t previously have a board of directors. The panel called that after the board is formed, the conversion of currently-held (simple agreement for future equity) SAFEs into equity should take place.
Back in August, Urum was asked to step aside by investors at the company, despite owning the largest part of the company, until the end of the investigation by panel members appointed by the investors.
“Following allegations of sexual and non-sexual impropriety from someone who can be reasonably expected to have knowledge of such, investors of Risevest have asked Eke Urum to step aside from his role as founder and CEO and an independent investigation is ongoing,” a statement shared with TechCabal then reads.
Urum expressed his desire to support Tony Odiba in his position as acting CEO while implementing the changes needed to ensure Risevest’s culture is inclusive, safe, and welcoming.
