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Toshiba Chooses Stacy Smith as Executive Chairman

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By Dipo Olowookere

Mr Stacy J. Smith has been announced as the Executive Chairman of Tokyo-based Toshiba Memory Corporation (TMC) effective on October 1, 2018.

He has extensive international experience, having both lived and led organizations in the Asia-Pacific, Latin America, Europe, the Middle East and Africa.

Mr Smith brings a long and proven track record of executive leadership to TMC and will work closely with CEO Yasuo Naruke to provide overall leadership to the business.

The new Chairman previously spent three decades at Intel leading organizations across multiple disciplines. In his role as President, Manufacturing, Operations and Sales, from 2016 to 2018, he led 40,000 employees involved in worldwide manufacturing, technology development, supply chain, pricing and sales. He also served as Intel’s Chief Financial Officer for almost a decade and in this role also had responsibility for corporate strategy, M&A, and Intel Capital.

Prior to that, he served as Intel’s Chief Information Officer and Vice President for Sales for Europe, the Middle East and Africa.

Mr Smith also brings strong board leadership experience. He currently serves as board chairman at Autodesk and as a director for Metromile. He served previously as a director for Virgin America and for GEVO. He also serves on the Board of Trustees for The Nature Conservancy of California and on the University of Texas McCombs School of Business Advisory Board. Smith attended The University of Texas at Austin, where he received his MBA in 1988 and his BBA in 1985.

“We are thrilled that Stacy is joining Toshiba Memory Corporation in this crucial leadership role at an important time in the company’s history,” said Yasuo Naruke, President and CEO of TMC. “With Stacy’s wealth of international leadership experience and knowledge of the semiconductor space, there is no doubt he is the perfect person to help lead our company in the next phase of growth as an independent company.”

“I am excited to take on this important challenge, and honored to join the TMC team,” said Smith. “Toshiba invented flash memory, and with TMC now operating as an independent company with increased capacity to invest in developing and growing semiconductor technology, the company has a strong growth trajectory ahead of it.”

Smith’s hiring follows the acquisition this year of TMC by an industry consortium led by Bain Capital Private Equity. Bain Capital Private Equity has a long history of successful investments in Japan including Skylark, Jupiter Shop Channel, BellSystem24, Domino’s Pizza Japan, Ooedo Onsen, and Asatsu-DK. The firm’s deep market knowledge, extensive local networks and expertise in driving operational improvement strategies have made Bain Capital a valued partner for Japanese companies.

“Stacy is the right leader to help TMC, already a technology leader in the flash memory industry, achieve its potential as an independent company,” said David Gross-Loh, a director of TMC and a managing director and co-head of Asia for Bain Capital Private Equity. “We are very pleased to welcome Stacy to TMC and look forward to working closely with him and the expanded management team.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Tinubu Appoints Tunji Disu as Acting Inspector General of Police

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Tunji Disu

By Modupe Gbadeyanka

President Bola Tinubu on Tuesday appointed Mr Tunji Disu as the acting Inspector General of Police (IGP), following the resignation of Mr Kayode Egbetokun.

Mr Disu, an Assistant Inspector General of Police (AIG), was recently moved to the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos.

A statement today by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that the President would convene a meeting of the Nigeria Police Council shortly to formally consider the appointment of Mr Disu as substantive IGP, after which his name will be transmitted to the Senate for confirmation.

Mr Tinubu expressed confidence that Mr Disu’s experience, operational depth, and demonstrated leadership capacity would provide steady and focused direction for the Nigeria Police Force during this critical period.

He reiterated his administration’s unwavering commitment to enhancing national security, strengthening institutional capacity, and ensuring that the Nigeria Police Force remains professional, accountable, and fully equipped to discharge its constitutional responsibilities.

Mr Egbetokun was said to have resigned from the position due to pressing family considerations.

President Tinubu, who accepted the resignation letter, expressed his profound appreciation for Mr Egbetokun’s decades of distinguished service to the Nigeria Police Force and the nation. He acknowledged his dedication, professionalism, and steadfast commitment to strengthening internal security architecture during his tenure.

Appointed in June 2023, Mr Egbetokun was serving a four-year term scheduled to conclude in June 2027, in line with the amended provisions of the Police Act.

The statement disclosed that his replacement was in view of the current security challenges confronting the nation, and acting in accordance with extant laws and legal guidance.

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Tunji Disu to Become New IGP as Egbetokun Quits

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tunji disu new IGP

By Adedapo Adesanya

Mr Tunji Disu, an Assistant Inspector General of Police (AIG), has reportedly replaced Mr Kayode Egbetokun as the new Inspector General of Police (IGP).

Mr Egbetokun resigned from the position on Tuesday after he was said to have held a meeting with President Bola Tinubu on Monday night at the Presidential Villa in Abuja.

President Tinubu appointed Mr Egebtokun as the 22nd IGP on June 19, 2023, with his appointment confirmed by the Nigeria Police Council on October 31, 2023.

Appointed as IGP at the age of 58, Mr Egbetokun was due for retirement on September 4, 2024, upon reaching the mandatory age of 60, but his tenure was extended by the President, creating controversies, which trailed him until his exit from the force today.

Although the police authorities are yet to comment on the matter or issue an official statement about his resignation, the move came amid reports suggesting that Mr Egbetokun has left the position.

Mr Egbetokun’s tenure was marred by a series of controversies; he recently initiated multiple charges against activist Mr Omoyele Sowore and his publication, SaharaReporters, after Mr Sowore publicly described him as an “illegal IGP.”

The dispute escalated into protracted legal battles, with the Federal High Court issuing injunctions restricting further publications relating to the former police chief and members of his family. Critics interpreted these court actions as attempts to stifle dissent and weaken press freedom.

His replacement, Mr Disu, was posted to oversee the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos, some days ago.

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NIMASA Gets New Maritime Guard Commander

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Maritime Guard Commander

By Modupe Gbadeyanka

A new Commander of the Maritime Guard Command has been appointed for the Nigerian Maritime Administration and Safety Agency (NIMASA), and he is Commodore Reginald Odeodi Adoki.

His appointment was approved by the Chief of the Naval Staff, Vice Admiral Idi Abbas, a statement from NIMASA confirmed.

He was chosen to replace Commodore H.C Oriekeze, who has been redeployed by naval authorities.

Commodore Adoki, a principal Warfare Officer specialising in communication and intelligence, brings 25 years of experience in the Nigerian Navy covering training, staff and operations.

As a seaman, he has commanded NNS Andoni, NNS Kyanwa and NNS Kada. It was under his command that NNS Kada undertook her maiden voyage, sailing from the country of build (the United Arab Emirates) into Nigeria.

He was commissioned into the Nigerian Navy in 2000 with a BSc in Mathematics. He has since earned a Master’s in International Law and Diplomacy from the University of Lagos and an MSc in Terrorism, Security and Policing atthe  University of Leicester, England.

He is currently pursuing a PhD in Defence and Security Studies at the National Defence Academy (NDA). He is a highly decorated officer with several medals for distinguished service.

Welcoming the new MGC Commander to the agency, the Director General of NIMASA, Mr Dayo Mobereola, expressed confidence in Mr Adoki’s addition to the team, emphasising that it will further strengthen the nation’s maritime security architecture given his vast experience in the industry.

The Maritime Guard Command domiciled in NIMASA was established as part of the resolutions of the Memorandum of Understanding (MoU) with the Nigerian Navy to assist NIMASA in strengthening operational efficiency in Nigeria’s territorial waters, especially through enforcement of security, safety and other maritime regulations.

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