Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - RSS Feed

NAHCO Chairman, Suleiman Yahyah, Bows Out As Denis Hasdenteufel Takes Over

People
258 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In
Proshare

Wednesday, October 12, 2016 2:03pm / NSE

Citing the urgent need to attend to his failing health, the Chairman of the Nigerian Aviation Handling Company Plc (nacho aviance), Mallam Suleiman Yahyah (OON), has resigned from the board.

With the resignation of  Yahyah, the Vice Chairman, Mr Denis Hasdenteufel, would take over the leadership of the Board in an acting capacity and will preside over all the meetings of the Board pending the approval of regulators and further announcements from stakeholders.

Yahyah who was appointed a director of the company in November 2006 became the Chairman in July 2012. Yahyah had in recent months come under mounting pressures from his family to step down to enable him undergo a proper medicare.

Credited with the strategic reorganization of the Company to its current modern status, Yahyah had been battling with an undisclosed health issue for a couple of years now.

During his tenure, the Company witnessed unprecedented turnover which grew from 6.92 Billion when he took over leadership of the Board to 8.5 Billion at Year End 2015. This is in addition to increase in number of employees from about 1,100 to an all-time high of 1,980.

During this period, the asset base also grew from 9 Billion to 15 Billion.

The hallmark of Yahyah’s tenure at NAHCO was the modernization of Company’s equipment to align with world’s standard in modern ground handling service. He was credited with equipping NAHCO with state-of-the-art equipment that made the Company the great force that it is today in ground handling service in Sub-sahara Africa.

The diversification of the Company which the board under his tenure embarked upon led to the establishment of NAHCO FTZ with the granting of a licence for same by Federal Government. The Mainland Cargo Options also joined the growing list of companies in the group.

Yahyah also promoted a harmonious Company with the labour relations which ensured minimal disruptions in the company’s business operations.

His welfare–oriented policies include the introduction of performance based pay (PMP) to employees and profit-sharing for workers.

He introduced a management succession programme into the Company that ensured a smooth transition from one CEO to another.

Under his leadership, NAHCO became the most successful privatization story in the history of privatization programme in Nigeria.

READ MORE:
Related News