Transnational Corporation of Nigeria Plc (Transcorp), a chaebol-styled public company with interests in energy, hotels and agriculture has announced changes in its leadership after the exit of its former chief executive Manz Denga. Obinna Ufudo will replace Mr Denga as president and chief executive officer after the latter’s resignation was accepted by the board.
Mr Ufudo was the previously the Chief Operating Officer at the Tony Elumelu-led Heirs Holdings Group where he was part of the team that managed the operations of the group including HH Capital and Tenoil Petroleum and Energy Services. He has over sixteen years professional experience in treasury management, business strategy and investment banking.
The conglomerate which is based in Lagos, also named Chibundu Edozie to its Board of Directors. In addition to this new role, Mr Edozie will continue to function as the Group Deputy Managing Director of BGL Plc where 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 extensive experience in the capital markets and investment banking industry and was appointed to the Committee on the Review of the Investment and Securities Act (ISA) by the Federal Ministry of Finance.
Dupe Kupoluyi Olusola will also join the board as Director of Resources. Her expertise is in investor relations, private equity, business development and financial advisory services in emerging markets, particularly in West Africa and Europe.
“Transcorp places great emphasis on attracting top talent to lead the company to its next stage of growth and development.” said Transcorp Chairman Tony Elumelu. “Our board is convinced that Obinna is the right person to help lead the group forward.”