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Appointments

First Bank appoints Gbenga Shobo as new MD/CEO

First Bank has appointed Shobo to take the position MD/CEO, as Adeduntan retires.

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The Board of Directors of First Bank of Nigeria Limited has appointed Gbenga Shobo as its Managing Director/Chief Executive Officer (CEO).

The appointment was disclosed in a statement made by the bank’s Chairman, Ibukun Awosika on Wednesday, April 28, 2021.

Shobo will succeed Sola Adeduntan, who will be leaving the bank in accordance with the term limit for chief executives, after leading the bank since January 2016.

What they are saying

In her statement, Awosika said; “We are proud to announce Gbenga Shobo as our new MD/CEO. His appointment has proven the resilience of our succession planning mechanisms and the value we place on our long-standing corporate governance practices, which underpin the institution’s enduring sustainability and 127-year legacy. 

The board is confident that Gbenga has the experience and understanding of the bank and the know-how to lead the bank through this next phase of growth, which is focused on positioning First Bank as the pre-eminent bank in our chosen markets, delivering value to our stakeholders.

I would like to thank Sola for his dedication and efforts during his helm at the Bank, and before as CFO. The board and I are grateful for his leadership of the bank over the last 5 and a half years and believe that the strong foundations created during his term will provide an excellent basis for our continued success.”

What you should know about Gbenga Shobo

  • Shobo has over 30 years’ work experience from reputable organizations out of which he has garnered more than 26 years in the Banking Industry in Credit & Relationship Management; Products Development & Improvement; Treasury; Product Sales and Banking Operations, amongst others.
  • He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of Kellogg School of Management and Harvard Business School.
  • Shobo was appointed as the bank’s Deputy Managing Director (DMD) in 2016.
  • He also formerly served as executive director overseeing the retail banking/public sector businesses in the Lagos and West directorate and was hitherto the Executive Director overseeing the retail business in the South directorate.

Shobo’s appointment, according to the statement from the lender, is subject to regulatory approval.

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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.’’

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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 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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