Beta Glass has appointed Mr. Nitin Kaul, Ms. Olusola Carrena, Mr. Bolaji Olatunbosun Osunsanya, and Mr. Boye Olusanya as new Non-Executive Directors on its board.
The announcement was made in a filing on the Nigerian Exchange, signed by DCSL Corporate Services Limited, the company’s secretaries.
These appointments come after the exit of Mr. Emmanouil Metaxakis, Mr. Vassilis Kararizos, Mr. Serge Joris, and Mr. Gagik Apkarian, from the board.
Now part of Helios Investment Partners, Beta Glass said the new directors bring a mix of industrial experience and fresh perspectives to support the company’s next phase of growth.
What the board is saying
According to the board, Mr. Nitin Kaul, Non-Executive Director, has experience in strategy, mergers and acquisitions, restructuring, and business transformation across developed and emerging markets at Helios Investment Partners.
- He co-founded a boutique advisory firm focused on M&A and operational improvement and previously led Gates Corporation through its sale to Blackstone in 2014.
- Earlier in his career, he held senior roles at Tomkins, began at Arthur Andersen, and now serves on several boards across emerging markets.
Ms. Olusola Carrena, CFA, Non-Executive Director, has a background in investment banking, private equity, and corporate finance, overseeing deal origination, execution, and portfolio management at Helios Investment Partners.
- She previously worked at Stanbic IBTC Capital Limited, rising to Executive Director, and led transactions across industries, including oil and gas, FMCG, financial services, infrastructure, and healthcare.
Mr. Bolaji Olatunbosun Osunsanya, Non-Executive Director, has experience as CEO, investor, and governance leader in energy, finance, and infrastructure, including strategic restructuring at Axxela.
- He also held executive roles at Oando PLC and Access Bank Plc, contributing to business transformation, governance, and board oversight in strategy, audit, and risk management.
Mr. Boye Olusanya, Non-Executive Director, has worked across engineering, telecommunications, manufacturing, and agribusiness, currently managing strategic activities at Flour Mills of Nigeria and previously involved in operational improvement at 9mobile and Dangote Industries.
- He also served as Group Operating Partner at Helios Investment Partners, overseeing portfolio performance and optimization, and as Vice Chairman of the Nigerian Economic Summit Group.
These appointments follow Frigoglass Group’s February 2026 announcement that it completed the sale of its entire stake in Frigoglass Industries Nigeria and Beta Glass, to Helios Fund V.
Get up to speed
In December 2025, Beta Glass announced that its major shareholder, Frigoglass Group, had signed an agreement to sell its stake to Helios Investment Partners, an Africa-focused private equity firm.
- It stated that Frigoglass Group would sell its entire stake in Frigoinvest Nigeria Holdings for up to €100 million after three years of strengthening its glass operations in West Africa.
- Frigoinvest Nigeria Holdings included Beta Glass and Frigoglass Industries Nigeria Limited, covering the group’s glass container, plastic crate, and metal crown manufacturing businesses.
By February 2025, Beta Glass was informed that Frigoglass Group had completed the sale, managed by Helios Investment Partners.
What you should know
Beta Glass shares have risen over 34% year-to-date in 2026, on the Nigerian Exchange and are currently priced at N498.5 per unit, approaching the N500 mark.
The stock’s strongest year-to-date performance was in 2025, climbing more than 470% on the exchange.
Three of the new directors, Mr. Nitin Kaul, Ms. Olusola Carrena, and Mr. Boye Olusanya, are connected to Helios.
Beta Glass’s CEO, Alex Gendis, said the company welcomed Helios Investment Partners and looked forward to using their experience to support sustainable growth and long-term value for stakeholders.
