UAC Nigeria Plc Appoints Folasope Aiyesimoju as new Group MD/CEO

NIGERIA – The United Africa Company of Nigeria Plc (UAC), parent company of Grand Cereals Ltd and UAC Foods Limited, has appointed Mr Folasope Babasola Aiyesimoju new Group Managing Director/Chief Executive Officer.

According to a statement made by the board of directors of UAC of Nigeria Plc in a notice to the Nigerian Stock Exchange (NSE) Mr Folasope Aiyesimoju will assume the position effective April 1, 2019.

Before his appointment, Mrs Omolara Elemide had been holding the position as the Acting general managing director and CEO since January 2019.

Mr Aiyesimoju is a finance professional with experience spanning corporate finance, principal investing and private equity and has been serving in the board of UAC since 2018 as a member of the governance and remuneration committee of the board.

He holds a B.Sc. (Hons) degree in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real Estate Development and finance, and earned the right to use the CFA designation in 2006.

Over the years, Mr Aiyesimoju has grown his experience working across various institutions in Sub-Saharan Africa’s most important economies

Mr Aiyesimoju spent the early part of his career with Ocean and Oil Holdings Limited, a principal investment firm in Nigeria and ARM Investment Managers, a leading investment advisory and wealth management firm in Nigeria, reports Business Post.

He has also worked with Kohlberg Kravis Roberts, a leading global investment firm as well as the Standard Bank Group, where he led mergers and acquisitions in Nigeria.

Mr Aiyesimoju is the founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.

He also a co-founder of Foodpro Limited, a nutritional snacks business focused on edible nuts, where he currently serves as a non-executive director.

In his capacity as Group MD/CEO of UAC, the statement said, Aiyesimoju would serve concurrently as Managing Director/CEO of UPDC until a new managing director is appointed for the subsidiary company.

Mr Aiyesimoju was appointed as the Managing Director of UACN Property Development Plc in August, 2018.

Commenting on the appointment the Chairman of the board of UAC of Nigeria Plc, Mr Dan Agbor, said that the appointment of Mr Aiyesimoju as GMD/CEO signifies the company’s ambitions, and the board’s determination to accelerate the process of change within the group.

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