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Transcorp Appointments New Board of Directors And Subsidiary CEOs

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The Board of Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s largest listed conglomerate and a leading investor in the energy sector, has announced the appointment of Mr. Victor Famuyibo and Mallam Ahmadu Sambo to its board of directors.

The appointment became effective from April 22, 2021.

The group, in a statement at the weekend, also formally announced the appointment of two new members of its executive management team: Mr. Vincent Ozoude, as MD/CEO of Trans-Afam Power Limited and Mr. Peter Ikenga, as MD/CEO of Transcorp Energy Limited.

Famuyibo joined the board with deep experience and knowledge in human resources and personnel management. He worked with multinational companies such as UAC Nigeria, Heineken International and Nigerian Breweries Plc, where he led numerous teams to drive strong employee engagement, the statement added.

Famuyibo retired from Nigerian Breweries as Director of Human Resources and a member of the board after a distinguished career of 32 years in the company.
On the other hand, Sambo has over 30 years of work experience in the private and public sectors in Nigeria and the United States.

He retired as group general manager in charge of Group Finance for the Nigerian National Petroleum Corporation (NNPC). Prior to this, he was the managing director of NNPC Oilfield Services Limited, NIDAS Marine Limited and NNPC Pension Fund Limited between 2011 and 2016.

The statement said in recognition of his meritorious service, he received numerous awards, including the First Place Ministerial Award for outstanding Staff Performance from the Honorable Minister of State for Petroleum Resources. “He is a Member of the Commonwealth of Massachusetts Board of Accountancy and State of New Hampshire Board of Accountancy. He is also a Member of the Massachusetts Society of Certified Public Accountants and National Association of Black Accountants,” it added.

Similarly, Ozoude is the MD/CEO of Trans-Afam Power Limited. He joined Transcorp Group from General Electric (GE) Inc-Sub Sahara Africa, where he was sales director, covering the entire Sub-Saharan Africa for General Electric Power Generation Services portfolio.

A graduate of Chemical Engineering with Masters in the same field from the Enugu State University of Science and Technology, Ozoude is leading Transcorp’s recently acquired 966MW power plant asset, Afam Genco, which comprises Afam Power Plc and Afam Three Fast Power Limited.

“Ozoude has over 20 years of work experience in the power generation services sector, was at some time a member of GE field engineers advisory board for Africa and Middle East region, a greenbelt lean six sigma qualified and won numerous awards such as Everyday Excellence Expertise Award from GE Global leadership, Clear Thinker Award amongst others,” it added.

Ikenga is the MD/CEO of Transcorp Energy to lead the conglomerate’s integrated energy strategy, with a particular focus on gas, renewables and alternative energy.
He brings with him a wealth of global professional experience, having directly developed and managed major oil, gas and power assets and operations in multiple regions, including Nigeria, Brazil and the United States for Shell Nigeria and Shell International. Prior to joining the group, Peter was refining director for an indigenous oil and gas operator in Nigeria.

Commenting on the appointments, the Chairman of Transcorp Group, Mr. Tony Elumelu, said: “Transcorp has made a succession of important recent business acquisitions, consolidating our position in the power, oil and gas sectors, demonstrating our commitment to Nigeria’s economy and the rapid advance in our integrated power strategy.

“We are delighted to complement these with further investment in human capital. These announcements illustrate the depth, diversity and quality of experience of our leaders, both executive and non-executive. Our board and management team, led by the President/Group CEO, Mrs. Owen Omogiafo, are further capacities to deliver our vision.

“Mr. Famuyibo, with his considerable experience in human resources, will be invaluable in working with management to deliver cutting edge employee management practices. Mallam Sambo brings crucial knowledge of the energy sector, further accelerating our integrated energy strategy.

“Peter and Vincent, working with our existing CEOs, Mr. Chris Ezeafulukwe, MD/CEO Transcorp Power Ughelli and Mrs. Dupe Olusola, MD/CEO Transcorp Hotels Plc, will contribute to the group’s mission of ‘improving lives and transforming Nigeria”.

Mr. Elumelu further said that: “Peter and Vincent, working with our existing CEOs, Mr. Chris Ezeafulukwe, MD/CEO Transcorp Power Ughelli and Mrs. Dupe Olusola, MD/CEO Transcorp Hotels Plc, will contribute to the Group’s mission of “Improving Lives and Transforming Nigeria. “With the acceleration in our integrated energy strategy and the expansion of our hospitality business, notably the recently launched digital hospitality platform, Aura by Transcorp, we are closer to our goal of powering one in every four homes in Nigeria and redefining the standards of hospitality in Africa. This investment in human capital demonstrates, once again, our commitment to bring together the best, to ensure the execution and value creation that our stakeholders expect”.

Transnational Corporation of Nigeria Plc (Transcorp) is a publicly quoted conglomerate, with a diversified shareholder base of over 300,000. Its portfolio comprises strategic investments in the power, hospitality, agribusiness and oil and gas sectors.

Among the organisations in the group are Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power Ltd, Trans-Afam Power Ltd, Transcorp Energy and the recently launched digital hospitality platform, Aura by Transcorp Hotels.

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Appointments

Nigerian Breweries Picks Hans Essaadi to Replace Borrut Bel as MD/CEO

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Hans Essaadi - Investors King

Nigerian Breweries, the largest brewing company in Nigeria, has appointed Mr. Hans Essaadi as the Managing Director and Chief Executive Officer (CEO) effective 31st, July 2021.

Mr. Essaadi will replace Mr. Jordi Borrut Bel, the current Managing Director and Chief Executive Officer of Nigerian Breweries who will be completing his tenure on the 30th of July, 2021.

Mr. Borrut Bel is expected to take up another assignment within the Heineken Group, hence why the Board accepted his letter of resignation.

Mr. Hans Essaadi Profile

Mr. Essaadi, is currently the Managing Director of Al Haram Beverages, the HEINEKEN Operating Company (“OpCo”) in Egypt and joined the HEINEKEN Group as a Sales Representative in 1991.

He subsequently took up increasingly senior roles within the Group in Sales, Export and Marketing. He commenced his international career with HEINEKEN Puerto Rico as the Country Manager, and thereafter became the General Manager, Brau Union International, the HEINEKEN OpCo in Austria.

Before his current role in Egypt, he was General Manager, Siroco (the HEINEKEN Joint Venture with the Emirates in Dubai) and Managing Director, HEINEKEN Malaysia Berhad, a listed company in Malaysia.

The Board is pleased to have a person of Mr. Essaadi’s experience and knowledge to take up the position of Managing Director/CEO of the Company and to continue the turnaround work started by Mr. Borrut Bel.

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Ardova Appoints Mr. Oladeinde Nelson-Cole as Company Secretary/General Counsel

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Olumide Adeosun Ardova - Investors King

Ardova Plc, an indigenous energy group, headquartered in Lagos, Nigeria, with extended operations in Ghana, has confirmed the appointment of Mr. Oladeinde Nelson-Cole as Company Secretary/General Counsel with effect from 1 April 2021.

This was disclosed in a letter signed by Olumide Adeosun, Chief Executive Officer, Ardova Plc.

Mr. Nelson-Cole is a lawyer with over 14 years of experience spanning Company Secretarial, Corporate Compliance and General Legal Practice. He is a graduate of the Lagos State University.

Prior to joining Ardova Plc, Mr. Nelson-Cole was a Senior Associate in the law firm of RouQ and Co.

As the Company Secretary/General Counsel, Mr. Nelson-Cole will continue to guide the Board of the Company in ensuring strict compliance with regulatory and statutory requirements.

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Heirs Oil & Gas Announces CEO and Board Appointments

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Tony Elumelu

Heirs Oil & Gas (HHOG), the leading African integrated energy company, has announced the appointment of Osayande Igiehon as Chief Executive Officer, effective May 4, 2021, together with a distinguished non-executive board, bringing together leading industry figures, with considerable global and regional experience.

Heirs Holdings Limited’s (HH) portfolio company, HHOG, completed the acquisition of OML17 in January 2021, in one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion. The transaction represents a further implementation of the HH Group strategy of creating the leading integrated energy business in Africa. Through a series of strategic portfolio holdings, HH is executing this strategy. Most recently, affiliate company, Transcorp made a US$300 million acquisition of Afam Power, increasing the Group’s installed electricity generating capacity to 2,000MW.

Mr. Igiehon, who joins from the Royal Dutch Shell (Shell), where he was previously a Vice-President with the Group in the Hague, Netherlands. He brings over twenty-seven years of experience and expertise in the oil and gas sector with Shell, where he held a series of senior management positions. Mr. Igiehon previously served as Chairman and Chief Executive Officer of Shell Gabon, where he led the successful turnaround of the operational, safety and financial performance.

HHOG is also pleased to announce the appointment of the following distinguished private sector and senior industry leaders to the Board:

  • Tony O. Elumelu, CON is the Chairman of Heirs Holdings, the United Bank for Africa (UBA), Transnational Corporation of Nigeria (Transcorp), and Founder of the Tony Elumelu Foundation.
  • Sally Udoma who previously served as general counsel for Chevron Europe, Eurasia, and the Middle East Exploration and Production. Previously, she was general counsel for Sasol Chevron Consulting Limited and managing counsel at the London Legal Service Centre for Chevron Global Upstream and Gas. She has also served as general counsel and general manager for Chevron Nigeria Limited.
  • Anil Dua is a founding partner at Gateway Partners Limited, a private equity fund specialising in dynamic growth markets including Africa, the Middle East and Asia. Prior to this, Mr. Dua worked for over thirty-five years with Standard Chartered Bank in Asia, Africa, Europe and the US, where he held various roles including Regional CEO West Africa and Regional Head of Origination and Client Coverage, Africa.
  • Ahmadu Kida Musa who previously served as Deputy Managing Director of Total Exploration and Production Nigeria Limited, has over thirty-two years of experience in the Oil and Gas industry and brings considerable expertise in Nigerian oil and gas.
  • Stanley Lawson currently serves on the board of Transnational Corporation of Nigeria Plc. He is Managing Partner at Financial Advisory & Investment Consultants Ltd. Dr Lawson previously occupied the position of Group Executive Director-Finance & Accounts at Nigerian National Petroleum Corp.
  • Samuel Nwanze is the Chief Finance Officer at Heirs Oil and Gas. Prior to this he was the Chief Investment Officer at Heirs Holdings responsible for investment and capital management.

Commenting, Mr. Igiehon stated: “HHOG represents an extraordinary opportunity, to create Africa’s first true integrated energy company, with a mission to ensure that Africa’s natural resources are directed toward value creation in Africa, powered by sustainable, robust and abundant African energy. I am excited to join the Heirs Oil and Gas leadership team and look forward to the opportunity to transform the energy sector, purposefully address Africa’s energy needs and improve the lives of people across Africa.”

The Chairman of the Board, Tony O. Elumelu, CON, stated: “I am delighted to welcome our new board members. We are building a role model institution for African businesses and our investment in human capital is a further strong demonstration of our intent. The regional and global expertise of our board members will serve to further drive value creation to our continent, as we execute our goal of becoming Africa’s largest, indigenous, integrated, energy company.”

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