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Appointments

Sterling Bank appoints 2 new Non-Executive Directors

The Board of Sterling Bank Plc has announced the appointment of 2 Non-Executive Directors.

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Analysis: Sterling Bank, where are the returns?

Sterling Bank Plc has announced the appointment of Messrs Ankala Syam Prasad and Paritosh Tripathi into its Board as Non-Executive Directors, subject to approval from the Central Bank of Nigeria (CBN).

According to a disclosure signed by the Bank’s secretary, Temitayo Adegoke and seen by Nairametrics, the appointments are meant to fill the void created by the departure of erstwhile Board members-Messrs Ramesh Rajapur and Grama Narasimhan.

The profile of the newly appointed Board members is succinctly captured below;

Mr. Ankala Syam Prasad

Mr. Prasad has over two decades of experience in banking and financial services, with expertise in regulatory compliance and reporting, risk management etc. He is presently the Country Head and Chairman of the Executive Committee, State Bank of India (South African Operations). He is an alumnus of Nagarjuna University, India where he obtained Bachelors and Masters Degrees. He also obtained an MBA (Financial Management) from the prestigious University of Mumbai, India.

Mr. Paritosh Tripathi

Mr. Tripathi is an IT expert with over 30 years’ experience in the implementation of IT-related policies and projects in banks. He is presently the General Manager (Operations), International Banking Group of the State Bank of India (SBI). He holds a Bachelor of Arts degree and a Master of Business Administration (MBA) from the University of Lucknow. He is also a certified Associate of the Indian Institute of Bankers.

What you should know

  • Sterling Bank had earlier reported a Profit after tax of N11.69 billion for FY 2020. (+10.3% YoY).
  • The Bank closed trading today with a share price of N1.45, down by 8.81%.

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Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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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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    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.

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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 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.”

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