October 24, 2011
Lagos, Nigeria, October 24, 2011 – Transnational Corporation of Nigeria Plc (Transcorp) announced today that it has made changes in the leadership of the company. Transcorp’s Board of Directors appointed Obinna Ufudo as President and CEO effective immediately. Chibundu Edozie was also named to Transcorp’s Board of Directors.
Until his new appointment, Mr. Ufudo was the Chief Operating Officer at Heirs Holdings Group where he focused on establishing and running operations across the Group including HH Capital and Tenoil Petroleum & Energy Services. His professional experience in the treasury management, business strategy and investment banking industries spans over 16 years.
In addition to his new position, Mr. Edozie is the Group Deputy Managing Director of BGL Plc. He oversees the strategic business platform for the company’s asset management, private equity, securities and investment banking divisions. A geologist by training, he has over 18 years’ experience in the capital markets and investment banking industry and is an appointee by the Federal Ministry of Finance to the Committee on the Review of the Investment and Securities Act (ISA).
Also joining the Transcorp Group as Director of Resources is Dupe Kupoluyi Olusola. Her expertise is in private equity, business development and financial advisory services in emerging markets, particularly in West Africa and Europe. Mrs. Olusola has extensive experience in investor relations and is a PMI-certified and Prince 2 Practitioner project manager.
“Transcorp places great emphasis on attracting top talent to lead the company to its next stage of growth and development.” said Tony O. Elumelu, MFR, Chairman of Transcorp. “Our board is convinced that Obinna is the right person to help lead the Group forward.”
About Transnational Corporation of Nigeria Plc
Transnational Corporation of Nigeria Plc (Transcorp), a company quoted on the Nigerian Stock Exchange, is a diversified conglomerate with strategic investments and core interests in the hospitality, agribusiness and oil and gas sectors. Some of its more notable assets include Transcorp Hilton Hotel, Abuja; Transcorp Metropolitan Hotel, Calabar; Teragro Limited, the agribusiness subsidiary operating Benfruit Nigeria, a processing plant in Benue State for fruit juice concentrates production and Transcorp Energy Limited which has an interest in oil block OPL281.
Mr. Obinna Ufudo is a financial industry veteran who has held senior level positions in trading, investment management and advisory capacities. As Chief Operating Officer of the Heirs Holdings Group, he optimizes day-to-day operations of the Group and supervises its various subsidiaries. Obinna is also Chairman of Afri-Pay Limited, the parent company of U-Mo – a CBN licensed mobile payment solutions provider.