Nigeria’s provider of integrated identity management and payments transactional solutions, Chams Plc, has announced the appointment of Gavin Young as its new Managing Director and Chief Executive Officer (CEO).
Young’s appointment, which has been disclosed to take effect from Friday, November 1, 2019, follows the retirement of Sunday Williams who served the company for 28 years.
Consequently, Williams, on Monday, September 2, 2019, proceeded on three (3) months terminal leave, and Young resumed immediately in the acting capacity to ensure proper handover.
Williams was quoted to have said, “l am very confident in the capacity of Gavin to lead Chams to the next level and assure all our Stakeholders of a smooth transition as Gavin already understands the system.”
Young’s profile: The newly-appointed MD/CEO is a seasoned Fintech professional with a proven track record in managing Companies with a specific focus on all areas of Electronic Banking and Fintech.
His career cuts across 20 years at First National Bank of South Africa, 7 years at Visa as Country Manager, sub-Saharan Africa (South Africa and Nigeria). In 2007, he joined UBA and was a Divisional Director, Card Services, UBA. And since 2009, he has worked (on a full-time and part-time basis) with the Chams Plc Group of companies as Managing Director of ChamsSwitch and Deputy Managing Director of Chams Mobile, amongst others.
Prior to this development, the company made significant changes to its Board.
- Very Rev. Ayo Richards resigned as Non-Executive Director and Board Chairman.
- Dr. Mrs. Dere Awosika is now the new Board Chairman of Chams Plc.
- Pastor Ituah Ighodalo and Alhaji Yusuf Modibbo have been appointed non-executive directors.
- Mayowa Olaniyan and Funke Alomooluwa have been appointed executive directors.
Meanwhile, Chams Plc traded N0.24 in its last trading session on the Nigerian Stock Exchange (NSE). The stock has been at an all-time low, since December 2018.
Buhari appoints 2 new deputy commissioners for NAICOM
This was disclosed in a statement by NAICOM’s Commissioner for Insurance Directorate.
President Muhammadu Buhari on Monday appointed Alhaji Sabiu Abubakar and Mr. Oba Oluniyi as two new Deputy Commissioners of the National Insurance Commission (NAICOM). This was disclosed in a statement by NAICOM’s Commissioner for Insurance Directorate, Mr. Rasaaq Salami.
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Salami disclosed that Abubakar would be Deputy Commissioner for the Technical, while Oluniyi would assist with the running of the Finance and Administration (F&A) also Department.
NAICOM said that the appointments of the 2 new Deputy Commissioners would be effective from the 17th of July, and they will both serve as Deputy Commissioners for five years.
More details shortly…
Dangote Cement Plc. appoints Ms. Berlina Moroole as non-Executive Director
Ms. Moroole was previously CRO and Chief Audit Executive for Liberty Holding Group.
Dangote Cement Plc has announced the appointment of Ms. Berlina Moroole to its Board as a Non-Executive Director, subject to approval at the next Annual General Meeting.
In a statement issued by the company and sent to the Nigerian Stock Exchange, stated that “Ms. Moroole is the Chief Internal Audit, Risk and Sustainability Officer for Motus Holding, in the Board of Assupol (Audit Committee – Chair, Risk Committee and Social & Ethnic Committee – Chair) and M-sure.”
Ms. Moroole was previously CRO and Chief Audit Executive for Liberty Holding Group, Board member of a schedule 3 public entity in South Africa (Legal Aids South Africa) and an Audit Advisory Committee member for one of the United Nation agencies (UNFPA). “She is also a former Group CRO and CAE of a listed entity, Partner at Deloitte, Senior Manager for SARS internal audit department and internal auditor at CSIR Corporate Audit Services,” the disclosure revealed.
Recall that just late last year in November, Asue Ighodalo, Thabo Mabe, Halima Aliko Dangote, Olakunle Alake, Arnold Ekpe, and Yabawa Lawan Wabi (MNI) all stepped down from the board causing a massive shakeup. Four new directors had, however, been swiftly appointed.
The company recently released H1 2020 unaudited result for the period revealing a profit of N126.14 billion, against N119.24 billion recorded H1 of 2019. Its revenue had revealed a marginal 2% increase as it earned N476.85 billion for the period ended June 2020 while in 2019, its revenue stood at N467.73billion.
The company’s most recent share price as at today is N134.20. Its price-to-earnings ratio stood at 10.97 while its price-to-book ratio stood at 3.1347.
Cadbury Nigeria Plc appoints Adedotun Sulaiman as new board chairman
Mr. Sulaiman, has almost 40-years experience in strategic plan development.
Cadbury Nigeria Plc on Thursday announced the appointment of Mr. Adedotun Sulaiman (MFR), as the new Chairman of its Board of Directors, effective immediately.
Sulaimon replaces Mr Atedo Peterside who stepped down as Board chairman on 30th June 2020.
This announcement was contained in a statement issued by Mr. Frederick Mordi, the Company’s Corporate Communications and Government Affairs Manager for West Africa.
Mr. Sulaiman, has almost 40-years experience in strategic plan development, organisation design, human resource management, technology planning and process re-engineering.
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The renowned management and strategy consultant was first appointed into the Board of Cadbury Nigeria Plc as a Non-Executive Director in August 2009.
He had served as a Country Managing Director and Chairman of Accenture Nigeria, and he currently sits on and/or chairs the board of several companies and not-for-profit organisations such as ABSA Nigeria Plc, Interswitch Limited, Cornerstone Insurance Plc, The Corona Schools Trust, and Greensprings Schools.
He is also Vice-Chairman of the University of Lagos Advancement Board, and Chairman of the Financial Reporting Council of Nigeria (FRCN).
Speaking on his appointment, Managing Director, Cadbury Nigeria Mrs. Oyeyimika Adeboye said, “Mr. Sulaiman’s professional track record of excellence in the private sector and strong commitment to corporate governance principles, make him a natural fit for the role.
“He brings on board, his integrity, wealth of experience, and exemplary leadership style that have made him one of the most respected business leaders in Nigeria today. We are delighted to have Mr. Sulaiman as our new Chairman.”
As Nairametrics previously reported, Mr. Atedo Peterside stepped down from his position as Chairman of the board effective 30th June 2020, in order to concentrate on other interests. He joined the board in 2009 as a Director, and had served on the board as chairman for a decade.