Forte Oil Plc has announced the resignation of eight directors, and the appointment of six new members of the company’s board of directors. The company has also summoned an inaugural board meeting.
This is contained in a notice that was signed by Forte Oil’s General Counsel, Akinleye Olagbende, and issued to the Nigerian Stock Exchange signed by General Counsel.
The development is coming in the wake of the acquisition of the majority stake in Forte Oil by Prudent Energy & Services Limited from billionaire mogul, Femi Otedola.
Nairametrics had on the 20th of June 2019 reported about the appointment of a new Chief Executive Officer and new Chief Financial Officer for Forte Oil Plc.
Details of the Board Change: The notice declared that the following directors of the company resigned on 20th June 2019:
- Mr Femi Otedola
- Mr Akin Akinfemiwa
- Mr Julius Omodayo-Owotuga
- Mr Christopher Adeyemi
- Mr Anil Dua
- Mrs Suleiman Salamatu
- Dr Mairo Mandara
- Mr Nicholas Vervelde
By the same token, the statement confirms the appointment of the following persons to the board, effective from 20th June 2019:
- Alhaji Abdulwasiu Sowami (Chairman)
- Alhaji Aminu Umar (Non-Executive Director)
- Mr Olusola Adeeyo (Non-Executive Director)
- Mr Olumide Adeosun (Chief Executive Officer)
- Mr Moshood Olajide (Chief Financial Officer)
- Mrs Durosinmi-Etti Aniola (Non-Executive Director)
About Alhaji Abdulwasiu Sowami: A graduate of Sociology from the University of Maiduguri, Borno State, Mr Sowami holds a Masters in Corporate Governance from Leeds Beckett University in the UK.
In the course of his career, he has cultivated relationships with the leadership of prominent international trading companies including Vitol, Shell Trading Rotterdam, Glencore, and BP Oil International Limited. He is a member of several company boards among which are- Prudent Gas Limited, Ignite Investment and Commodities, FES Energy Limited (UAE), Prudent E& P Limited, and Prudent Effsow Commodities Limited.
He doubles as the Chief Executive Officer and founder of Prudent Energy and Services Limited, the downstream oil and gas firm that acquired Forte Oil Plc.
About Alhaji Aminu Umar: A graduate of Accounting from University of Maiduguri, Aminu Umar began his career as an accountant with Overseas Agency Nigeria Limited (OAN) in 1994. He rose through the ranks to emerge the company’s Managing Director in 2001 to 2007.
Umar attended many courses at Cambridge Academy of Transport, UK and in the UAE. He is Founder and CEO of Sea Transport Services Nigeria Limited, a refined petroleum product and vessel company.
He has, in his capacity as MD/CEO, taken the company on a consistent growth course over a decade with the company conservatively estimated to be more than $100 million dollars. Mr Umar has grown the company to more than 13 large oil tankers with a total capacity of 350,000 metric tonnes.
He is the president of the Nigerian Ship-Owners Association (NISA), member Ministerial Committee on Nigerian Fleet Implementation Committee on establishing national fleet and member, advisory council to the executive management of Nigerian Maritime Administration and Safety Agency (NIMASA).
About Mr Olusola Adeeyo: He holds a Bachelor of Arts degree in Political Science from the University of New York, Albany, USA. He equally holds a Masters degree in International Relations from Northeastern University, Boston, USA.
He has served as Independent Non-Executive Chairman of AXA Mansard Insurance Plc since May 2016. Before then, Mr Adeeyo ha served as a Non-Executive Director of the company.
He is the Founder and CEO of Astral Waters Limited. He is also the founder of Protea Hotel Oakwood Park, Lekki a 4-star hotel managed by Protea Hotel Group of South Africa. He was formerly the Managing Director of Asset and Investment Limited. He is currently an independent director and the chairman of the corporate governance and the remuneration committee of the Central Securities and Clearing Systems Limited.
About Olumide Adeosun: A consummate professional, Adeosun has over 18 years of experience in providing transactional, project management and strategy services both within and outside the country in fields that include oil and gas, renewable energy and power.
His previous employment at British Petroleum (BP) saw him work in the UK, Middle East, Europe, Africa and Russia, where he became, at different times, Vice President (Operations and Commercial Development), Chief Risk Officer, Head of Control, Group Finance, supporting business growth to the tune of $12 million gross margin in the first year of operation in West Africa.
Prior to his appointment at Forte Oil, Adeosun was a director in PwC West Market Area and contributed enormously to many PwC oil industry publications. He recently led the buy-side advisory of one of the biggest acquisition deals in the Nigerian downstream oil and gas sector.
About Mr Moshood Olajide: He is a graduate of law from Obafemi Awolowo University, Ile, Ife. He holds an LL.M from Columbia Law School, New York. Mr Olajide began his career in 2008 as an associate at the law firm, Aluko and Oyebode.
He became a consultant in 2012 at PriceWaterhouse Coopers Nigeria, becoming at different times over the years, Manager, Tax and Corporate Advisory Services and Senior Manager, Tax and Regulatory Services. Before his appointment at Forte Oil, he was Director Tax and Regulatory Services and General Counsel, West Africa Market Area at PwC.
Olajide’s core competencies include financial reporting, statutory audit, deal structuring, regulatory services, client training services, capital projects and infrastructure deals advisory.
He is a chartered accountant and tax professional, holding memberships of Association of Certified Chartered Accountants (ACCA) and Chartered Institute of Taxation of Nigeria (CITN).
About Mrs Durosinmi-Etti Aniola: She graduated from the University of Lagos in 1981 with an Upper Second Class grade in Law. She holds a Masters degree in Law from Cambridge University. She began her career in 1985 at the law firm Udoma Udo Udoma as an associate.
She joined Credit Transactions and Investment Company Limited in 1988, where she served as the Manager in charge of Legal/Administrative department.
She joined Linkage Assurance Plc as Legal Adviser/Head, Corporate Services in 2002. She successfully piloted the company through landmark transformational phases of growth among which were the initial Public offer in 2003 and a Public offer in 2005. She is currently a director and the managing director of the company.
Stanbic IBTC Holdings Plc appoints Sola David-Borha as Non-Executive Director
Sola David-Borha has been appointed as a non-Executive Director to the board of Stanbic IBTC Holdings Plc.
Stanbic IBTC Holdings Plc has announced the appointment of Mrs Sola David-Borha to its board as a Non-Executive Director, subject to the receipt of all required regulatory approvals.
In a statement issued by the company, signed by the company’s secretary Mr. Chidi Okezie and sent to the Nigerian Stock Exchange, stated that “Mrs. David- Borha is currently the Chief Executive, Standard Bank (Africa Regions). Prior to that, she served as Chief Executive of Stanbic IBTC Holdings PLC (2012-2017) as well as the Bank (2011-2012), after holding various executive positions in Corporate Banking; Corporate & Investment Banking; and Investment Banking Coverage for Africa (excluding South Africa). She is also an Independent Non-Executive Director on the Board of CocaCola Hellenic Bottling Company.”
She has a vast experience in the financial world and an astute board leader with a keen corporate governance. Sola has led and sat on various boards including being the former Vice Chairman for the Nigerian Economic Summit Group, subsidiaries of the Stanbic IBTC and Standard Bank Groups, Coca-Cola HBG A, and many others. She is also vastly educated having obtained MBA from the prestigious Manchester Business School and Bsc in Economics from the University of Ibadan. She is also an honorary fellow of the Chartered Institute of Bankers of Nigeria (CIBN).
Recall that Stanbic IBTC had earlier declared a Profit After Tax (PAT) of N45.2 billion for H1, 2020. Its gross earnings also increased by 7.8% to N126.57 billion with a basic earnings per share of 419 kobo and a proposed interim dividend payment of 40 kobo per share.
HealthPlus appoints Chidi Okoro as Chief Transformation Officer
Chidi Okoro has been appointed as Chief Transformation Officer of HealthPlus Limited.
Leading West African pharmaceutical chain, HealthPlus Limited has appointed Chidi Okoro as Chief Transformation Officer.
Mr. Okoro’s mission is to optimize day-to-day management and elevate the business to novel scale and profitability. The founder of the Company Mrs. Bukky George continues to be a director and a shareholder.
Leading healthcare and consumer private equity firm Alta Semper Capital, which controls the majority shareholder of HealthPlus, has simultaneously announced its continued commitment to the Company and desire to inject fresh capital to accelerate growth and utilize emerging opportunities in global healthcare. Following the onset of the COVID-19 pandemic, HealthPlus’ strong brand, diverse product mix and wide footprint uniquely position the business to be on the forefront of supply chain innovation and strategic expansion.
Reacting to the appointment, Okoro said, “I would like to recognise HealthPlus’ role in spearheading the evolution of modern pharmacies across Nigeria and scaling retail capabilities in the industry overall. I am incredibly excited to now have the opportunity and the resources to take the platform to the next level, at a time of unrivalled opportunity for the sector. I look forward to working with all stakeholders to achieve even greater things in the future.”
Mr. Okoro is a licensed pharmacist and management executive with over thirty years of multinational and multisector experience, spanning leadership roles in pharmaceuticals, personal care, food, and telecommunications.
Founded in 1999, HealthPlus as Nigeria’s first integrated pharmacy platform and the largest and fastest-growing pharmacy chain in West Africa. It operates over seventy retail pharmacy and beauty care locations and is the largest private employer of pharmacists in Nigeria. Its extensive product portfolio includes Prescription-Only-Medicines, Over-the-Counter Medications, and personal care items, with a strong emphasis on local procurement and an active drive for community building.
Flour Mills appoints Juliet Anammah to the Board of Directors
Juliet Anammah has been appointed to the Board of Directors of Flour Mills of Nigeria Plc.
Nigeria’s leading integrated food business and Agro-allied group, Flour mills of Nigeria Plc has announced the appointment of Juliet Anammah, to the board of Directors.
The appointment was announced in a disclosure sent to the Nigeria Stock Exchange today, which was seen by Nairametrics.
This disclosure which was signed by the Company’s Secretary, Umolu Joseph, confirmed the appointment of Anammah, to the board of Directors effective from 10th September.
Juliet, who is the current Chair of the Board, Jumia Nigeria, and Head of Institutional Affairs across Africa brings a vast experience in the consumer product industry, along with excellent skills in product creation and high-profile brand building.
It is noteworthy that Mrs Anammah, while the CEO of Jumia led the company through a period of impressive growth, and subsequently to become the first African tech company to be listed on the New York Stock Exchange in 2019.
Speaking about the appointment, Mr John Coumantaros, Chairman of the Board says the appointment is of tremendous value to FMN, as it will help to position the group to take advantage of the changing consumer landscape in the foods and Agro-allied sectors.
“I am truly excited to welcome Juliet to the Board of Directors. Her over 28 years of executive leadership experience in business consulting and e-commerce in Africa will be of tremendous value to FMN, as we continue to position the group to take advantage of the changing consumer landscape in the foods and agro-allied sectors,” Coumantaros said.
Coumantaros emphasized that the appointment represents the Boards’ determination to ensure a diverse mix of skills and viewpoints on the FMN Board in a bid to fulfil the purpose of feeding the nation, every day.
About Mrs Juliet Anammah
Mrs Juliet Anammah has over twenty-five years of professional experience in Consumer Goods, Sales and Marketing Management Consulting and E –commerce. She started her career with Sanofi Aventis in 1991 and worked in key sales/marketing capacities until 1999, when she joined Accenture’s Strategy service line as a senior consultant.
In 2004 she launched Accenture’s Products Operating Group which covers Accenture’s consulting services for Fast Moving Consumer Goods, Retail and Transport Industries in West Africa. Juliet became a Partner in Accenture in 2013.
She is presently the Managing Director/Chief Executive Officer of Jumia Nigeria, a position she undertook in 2015 and oversaw Jumia’s transition from online Retail to a Marketplace. Jumia is an online marketplace operating in 15 African countries. Jumia’s scope covers E–commerce, Travel booking, Food ordering and Classifieds.