Alexander Adeyemi has quit his board director role at Transcorp Hotels Plc, five years after he was appointed as a Non-Executive Director.
Due to undisclosed reasons, Adeyemi exited the company and was replaced by Udechukwu Obi Osakwe on Friday, a corporate document obtained by Ripples Nigeria, dated February 16, 2023, revealed.
Prior to joining the board in 2019, Adeyemi was the Director, Revenue and Investment at the Office of the Accountant-General of the Federation.
Ripples Nigeria gathered that Adeyemi owns N6.84 billion worth of shares in Transcorp Hotels, as of the end of 2021. The company is yet to update the market on its board shareholders for 2022.
Read also:Access, Transcorp among active entities as investors trade N2.16bn worth of shares
Before his exit from the board, Adeyemi was not involved in the day-to-day management of Transcorp Hotels, however, he was involved in the policymaking and planning exercises.
Meanwhile, Osakwe joined Transcorp Hotels’ board as a Non-Executive Director and will also act in a similar capacity, considering his Non-Executive role.
Osakwe also worked at the Office of the Accountant-General of the Federation, and his career spans across World Bank, the African Development Bank Group (AfDB), the Global Fund and the GAVI.
“Mr. Udechukwu Obi Osakwe has over thirty (30) years of private and public sector professional experience covering management consultancy, oversight of financial management operations, with the Federal Ministry of Finance, the Federal Ministry of Health Nigeria, before he joined the Office of the Accountant-General of the Federation (Treasury House) Abuja,” the corporate document reads.
The post Transcorp Hotels’ billionaire board director, Alexander Adeyemi, quits appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.
Last modified: February 17, 2023
