UAC of Nigeria Plc‘s Board of Directors has appointed Folasope Babasola Aiyesimoju as the company’s new Group Managing Director (MD) and Chief Executive Officer (CEO).

According to a notice sent to the Nigerian Stock Exchange, Mr Aiyesimoju’s appointment took effect today Monday, April 1st, 2019.

In his capacity as Group MD/CEO of UAC, Aiyesimoju will serve concurrently as Managing Director/CEO of UACN Property Development Plc (UPDC) until a new MD/CEO is appointed for the subsidiary company.

Commenting on Aiyesimoju’s appointment, Dan Agbor, the Chairman of the Board of UAC of Nigeria Plc, said the appointment signifies the company’s ambitions, and the Board’s determination to accelerate the process of change within the Group.

A look into Folasope Babasola Aiyesimoju’s professional career

Aiyesimoju is a finance professional with experience spanning corporate finance, principal investing, and private equity.

Over the course of his career, Mr Aiyesimoju has lived and worked in some of Sub- Saharan Africa’s most important economies; thereby gaining experience of the operating landscape in the region.

He holds a B.Sc. (Hons) degree in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real Estate Development and Finance. He also earned the right to use the CFA designation in 2006.

Mr Aiyesimoju is the Founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.

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Prior to founding Themis, he worked with Kohlberg Kravis Roberts, a leading global investment firm.

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His experience also includes working with the Standard Bank Group, where he led mergers and acquisitions in Nigeria.

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Fola spent the early parts of his career with Ocean and Oil Holdings Limited, a principal investment firm in Nigeria and ARM Investment Managers, one of Nigeria’s leading investment advisory and wealth management firms.

He also co-founded Foodpro Limited, a nutritional snacks business focused on edible nuts, where he currently serves as a non-executive director.

However, Aiyesimoju first joined the Board of UAC of Nigeria Plc in March 2018 and is a member of the Governance and Remuneration Committee of the Board.

He was also appointed Managing Director/CEO of UACN Property Development Plc (“UPDC PLC”) in August 2018.

About UAC of Nigeria Plc

UAC of Nigeria Plc, a diversified conglomerate, operates in the food & beverages, real estate, paints, and logistics sectors in Nigeria and Ivory Coast.

The company is currently trading N7.65 on the floor of the Nigerian Stock Exchange (NSE).


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