The board of Transnational Corporation Plc has approved the appointment of Mrs. Owen Omogaifo as an executive director of the company.
The appointment takes effect from July 1, 2018.
The company’s board is presently having Tony Elumelu as its Chairman, Adim Jibunoh as President/Chief Executive Officer (CEO), Stanley Lawson, Olorogun O’tega Emerhor, Kayode Fashola, Alhaji Abdulquadir Jeli Bello, and Emmanuel Nnorom as non-executive directors. With the appointment of Nasir as a non-executive director, brings the number non-executive directors in Transcorp to five.
Nairametrics, in March 16, 2018, had reported that a subsidary of the company, Transcorp Hotel Plc, announced the resignation of Emerhor as its Chairman and was replaced by Bello at its 4th annual general meeting (AGM).
Recall that the company recently announced the appointment of Mr. Christopher Ezeafulukwe as a new executive director.
Profile of the new Executive Director
- Mrs. Owen Omogaifo has a Bachelor’s Degree in Sociology and Anthropology from the University of Benin and an M.Sc in Human Resource Management from the London School of Economics and Political Science.
- Prior to her appointment, she was the Chief Operating Officer of the Tony Elumelu Foundation.
- Her work experience also includes Director Human Resources, Chief of Staff, HR Advisor to the GMD/CEO at UBA.
- Human performance consultant at Accenture.
- Relationship Manager Bond Bank
- She is a certified change manager and a Member of the Chartered Institute of Personnel and Development, UK.
Transnational Corporation of Nigeria Plc (also referred to as Transcorp) is a leading diversified conglomerate, incorporated on November 16, 2004, and quoted on the Nigerian Stock Exchange (NSE). Transcorp has a shareholder base of about 300,000 investors, the largest of which is Heirs Holdings Limited.
The company focus on acquiring and managing strategic businesses that create long term shareholder returns and socio-economic impact. Transcorp’s business interests are in four strategic sectors: Power, Energy, Hospitality and Agriculture.
Transcorp owns Transcorp Hilton Hotel, Abuja, Transcorp Hotels, Calabar, Teragro Commodities Limited, operator of Teragro Benfruit Plant, Transcorp Power Limited (which acquired Ughelli Power Plc, owner of the 972MW Ughelli Power Plant) and Transcorp Energy Limited, operator of OPL 281.
The company’s shares traded at N1.44 on the Nigeria Stock Exchange (NSE), with a one year return of 1.89%.
The Nigerian Stock Exchange recently granted an extended timeframe till May 18, 2020, for the company to restructure its share capital in a way to dilute the over-concentration of shares and free more shares for minority shareholders.
The company’s financial statements for the period ended Q1 March 31st, 2018 shows revenue growth of 28% from N2.9 billion in Q1 2017 to N3.8 billion in Q1 2018. Profit before tax also grew by 61% from N543 million in Q1 2017 to N874 million in Q1 2018.