Connect with us
deals book
Advertisement
Polaris bank
Advertisement
Oando
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Binance
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
Access bank
Advertisement
app

Appointments

Ikeja Hotels Plc appoints new acting CEO

The Board of Directors of Ikeja Hotels Plc has announced the appointment of Mr Theophilus Eniola Netufo as the acting MD/CEO of the company.

Published

on

Ikeja Hotel Plc is considering a capital raise

The Board of Directors of Ikeja Hotels Plc has announced the appointment of Mr Theophilus Eniola Netufo as the Acting Managing Director and Chief Executive Officer of the company. This followed the approval by the Securities and Exchange Commission (SEC) with effect from March 23, 2020.

The appointment was announced in a notification which was sent by the company to the Nigerian Stock Exchange (NSE) on March 26, 2020, and signed by Chisom Umeofia on behalf of Punuka Nominees Ltd, who act as the Company Secretary.

Theophilus Eniola Netufo is a chartered accountant with over three decades of experience in accounting, auditing, taxation and general management services in Nigeria.

He started his career as an audit trainee and audit senior with S.S. Akemikhe and Co (Chartered Accountants). He was a financial accountant and later account manager with S.C. Johnson Wax Nigeria Ltd. He was also the financial analysis manager at Coca-Cola Nigeria Limited (Africa Division Officer).

He has worked as the Chief Finance Officer of Ikeja Hotel Group and more recently as the Chief Operating Officer of Ikeja Hotel Plc.

[READ MORE: FIRS retires coordinating directors, appoints new ones)

He is a fellow of the Institute of Chartered Accountant of Nigeria (ICAN), a fellow of the Chartered Institute of Taxation, a fellow of the Nigerian Institute of Management, fellow International Institute of Certified Forensic Accountants and also an active member of the Institute of Directors (IOD).

Hotflex

It could be recalled that in May 2017, the Securities and Exchange Commission (SEC) dissolved the board of Ikeja Hotels Plc, ordered a forensic investigation into the affairs of the company and appointed Chief Anthony Idigbe (SAN) as the interim chairman.

The apex capital market regulator sacked the board due to unresolved internal crisis involving some majority shareholders of Ikeja Hotels Plc, in apparent reference to the squabbles within the Ibru family, which holds the largest shareholdings in the company.

This was after the NSE had suspended trading on the shares of the company in November 2016 due to the high-stake dispute in the Ibru family. This was done in order to safeguard the investments of shareholders of Ikeja Hotel Plc following the continued dispute between the major shareholders which has negatively impacted on the company’s governance structure”.

Ikeja Hotels, incorporated in 1972 and quoted on the NSE in 2007, controls a chain of hotels directly and through other subsidiaries and affiliates, including Tourist Company of Nigeria (TCN) Plc and Capital Hotel Plc., Ikeja Hotel, Sheraton Hotel, Ikeja, Lagos. TCN owns Federal Palace Hotel while Capital Hotel owns Abuja Sheraton Hotel. The Ibru family owns the single largest individual shareholding.

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

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.

Published

on

Like MTN, is Airtel Nigeria considering listing?

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.’’

Hotflex

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.

Continue Reading

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.

Published

on

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.

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.”

Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.