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Appointments

FCMB Group Plc appoints new Executive Director 

First City Monument Bank (FCMB) has announced the appointment of Olufemi Badeji as its new Executive Director.  

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First City Monument Bank (FCMB) has announced the appointment of Olufemi Badeji as its new Executive Director – corporate and investment banking.

In a statement made available to the investing public, the lender disclosed that Badeji’s appointment had been approved by the Central Bank of Nigeria (CBN), with effect from October 2, 2019.

His Profile: Olufemi Badeji holds a BSc. degree (magna cum laude) in Electrical Engineering, with a minor in mathematics, from the University of Hartford, Connecticut, USA and an MSc. in Electrical Engineering, with a specialization in computer and communications networks from Worcester Polytechnic Institute, Manchester USA. After working for 5 years as a system software Engineer, he obtained his MBA in Finance and Accounting from Wharton School, the University of Pennsylvania in 2006.

[READ MORE: FCMB Group Plc appoints a new Executive Director]

Femi has over 15 years of investment banking experience in the United States, Nigeria and South Africa. He worked for the now-defunct Lehman Brothers and Houlihan Lokey in the USA and upon moving back to Nigeria in 2009, he worked as a Vice President in FCMB Capital Markets Limited. He joined Rand Merchant Bank in September 2011 where he rose to the position of Head, Corporate Finance for Nigeria, responsible for growing and developing client relationships, as well as the origination, execution and management of transactions.

Femi’s transaction experience includes capital raising (both debt and equity), corporate restructuring, private equity transactions and providing financial advice to institutions in industries spanning architecture, business services, fast-moving consumer goods, financial services, infrastructure, telecoms, IT services, oil & gas, the public sector, real estate and specialize finance.

Femi comes with varied experience in investment banking and his joining the FCMB Group Plc Board will have a positive impact on the FCMB Group as a whole.

A look into the firm’s financial results: FCMB recorded gross revenue of N177.4 billion in 2018 against N169.9 billion in 2017. The company’s revenue grew by 4.3% year-on-year.

The company’s profit before tax stood at N18.4 billion in 2018 as against N11.5 billion in 2017. This represented a 73% increment.

Profit after tax stood at N14.9 million in 2018 against N8.6 million in 2017,  representing another increment of 73.8%.

[READ ALSO: Karim-Franck Dio appointed Non-Executive Director of SUNU Assurances Plc]

First City Monument Bank Plc (FCMB) also declared and paid a dividend of 14 kobo per ordinary share, translating to N2.77 billion for the financial period ended Monday, December 31, 2018.

 

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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Appointments

Airtel Nigeria announces appointment of Surendran as new Chief Executive Officer

Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new MD/CEO with effect from August 1, 2021.

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Telecommunications giant, Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new Managing Director and Chief Executive Officer with effect from August 1, 2021.

Surendran would be replacing the outgoing Managing Director and Chief Executive of Airtel Nigeria, Olusegun Ogunsanya, who has been elevated to the position of Chief Executive Officer of Airtel Africa Plc with effect from October 1, 2021.

According to a report from the News Agency of Nigeria, this disclosure is contained in a statement issued by Airtel on Wednesday, May 5, 2021, in Lagos.

READ: Airtel Africa signs new $500 million loan with Bank of America, HSBC, others

The statement says that Surendran would also be appointed to the Executive Committee (ExCo) as Regional Operating Director, reporting to the CEO of Airtel Africa plc, and onto the Board of Airtel Networks (Nigeria) Limited.

Airtel in its statement said, “Surendran has been with Bharti Airtel since 2003 and has contributed immensely in various roles across customer experience, sales and business operations.

He was the Chief Executive Officer of Karnataka, which is the largest circle in Airtel India, with over one billion dollars in revenue.

Surendran delivered an exceptional performance with significant movement in Revenue Market Share (RMS) over the last few years, currently at 54 percent. He has over 30 years of business experience, including 15 years at Xerox.’’

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Airtel said that Surendran would transition into his new role from June 1, 2021, and spend the time onboarding into the business until July 31, 2021.

READ: Meet the latest billionaires on the Nigerian Stock Exchange

In case you missed it

It can be recalled that a few days ago, Airtel Africa Plc, a leading provider of telecommunications and mobile money services in Nigeria and 13 other countries, announced the appointment of Mr Olusegun Ogunsanya as the new Chief Executive Officer, following the notice of retirement given by the current Managing Director/Chief Executive Officer, Raghunath Mandava, to the Board.

In the notification sent by Airtel Africa to the Nigerian Exchange, Ogunsanya is expected to join the board of Airtel Africa with effect from October 1, 2021.

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Appointments

Guinness announces retirement of Chairman, appoints former Minister as replacement

Guinness Nigeria Plc has announced the appointment of Dr Omobola Johnson as the new Chairman of its board, with effect from July 1, 2021.

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Guinness Nigeria Plc has announced the appointment of Dr. Omobola Johnson as the new Chairman of its board, with effect from July 1, 2021.

This follows the retirement of the current Chairman, Babatunde Savage, from the position, with effect from June 30, 2021.

The announcement is contained in a notice sent to the Nigerian Exchange Limited, investing public, and other stakeholders on May 4, 2021, and signed by the Company Secretary, Rotimi Odusola.

READ: Guinness, Int’l Brew, Nigerian Breweries spend N65.5 billion on key acquisitions in 2020

Johnson, who has over 30 years of experience from both the private and public sectors of the Nigerian economy, was a former Minister of Communications Technology and a former Country Managing Director in Accenture.

While commenting on her appointment, Johnson who has been serving on the board of Guinness, said, “Guinness Nigeria is an excellent company with tremendous value creation opportunities, and I believe the refreshed board and management team remain committed to maximizing shareholder value.”

In his letter addressing the board in compliance with the applicable corporate governance regulation, Savage expressed his pleasure at the opportunity to have been a part of the Guinness story over the last four decades.

He thanked the board of Guinness Nigeria and Diageo UK for the opportunity to have served in several capacities, first as an employee who held various strategic senior roles, then as an Executive Director, and later as Chairman of the board, a role that he held for almost 12 years.

READ: Guinness Nigeria’s market value surged by N23.8 billion in March 2021

He said, “After almost 40 amazing years, my journey with Guinness Nigeria is coming to an end. Guinness Nigeria is and will always be family to me.”

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