- Khalifa Adebayo Biobaku has been elected as the new Vice-Chairman of the Board of Directors of the United African Company of Nigeria (UAC).
- Biobaku is a seasoned finance and investment professional with extensive experience in investment banking, fund management, and private equity.
- Babatunde Kasali has retired from his position as a Non-Executive Director on the UAC Board of Directors, and the company thanked him for his service.
The United African Company of Nigeria has announced the election of Mr Khalifa Adebayo Biobaku as the new Vice-Chairman of its Board of Directors. The announcement was made via a statement by the company’s secretary Ayomipo Wey.
According to Wey, currently serves as a Non-Executive Director at UAC since his appointment to the Board in March 2022.
Background of Mr Biobaku
About Mr Biobaku’s capacity, the statement reads.
- “Mr Biobaku is a seasoned finance and investment professional with twenty years of experience spanning investment banking, fund management, and private equity across Europe, the Middle East, and Africa.
For almost 10 years, Mr Biobaku was a co-Managing Partner of Blakeney Management, London, a specialist emerging markets investment firm.
He has also worked at Goldman Sachs International, London; Morgan Stanley International, London; Davidson Kempner Partners, London.
He has extensive experience in strategy development and execution, capital raising, corporate actions and restructurings, commercial negotiations, and effective team building. Mr Biobaku graduated with an M.Eng in Engineering, Economics, and Management from Oxford University.
Non-Executive Director retires.
In a similar vein, the Board of UAC also announced the retirement of Mr Babatunde Kasali from his position as Non-Executive Director.
In its statement, the Board thanked Mr Kasali for his time and wished him well in his future endeavours.
The statement reads:
- “UAC of Nigeria PLC (the “Company”) wishes to inform the Nigerian Exchange Limited, its shareholders, and the investing public of the retirement of Mr Babatunde Kasali, a Non-Executive Director from the Board of Directors (the “Board”) of the Company at the end of the Company’s Annual General Meeting on 21 June 2023.”
- Mr Babatunde Kasali was appointed to the Board in March 2013 and, at the time of his retirement, served as a member of the Governance and Remuneration Committee and Statutory Audit Committee.
- The Board appreciates Mr Babatunde Kasali for his service over the years and wishes him all the best as he proceeds on retirement from the Board of the Company.”
About UAC Plc
The United African Company was established in 1879 as a trading company. Over time it has evolved into an investment holding company that is active in diverse sectors of the Nigerian economy.