ABC Transport Appoints New Chairman

ABC Transport Plc, a coach operator and the only road transport operator quoted on the Nigerian Stock Exchange, has announced the election of Olumide Obayomi as chairman of the company’s board of directors.

Obayomi was elected at the 20th annual general meeting (AGM) of the ABC Transport held at the Imo Concorde Hotel, Owerri, Imo State. He joined the board in February 2006, as a representative of Capital Alliance Private Equity Funds (CAPEs), the private equity funds that invested in the company in early 2003.

Following the final exit of the Funds’ investments in the company in early 2008, he was elected a director in his private capacity at the company’s AGM in August, 2008. He replaces Alloysius Nwaogwugwu, who retired as a director and chairman of the company at the last AGM.

Source: Businessday