Connect with us

Jobs/Appointments

Eterna Appoints Obiagwu to Replace Tukur as MD/CEO

Published

on

Nnamdi Obiagwu Eterna

By Modupe Gbadeyanka

The current Chief Operating Officer of Eterna Plc, Mr Nnamdi Obiagwu, has been appointed to replace the present Managing Director/Chief Executive Officer of the company, Mr Mahmud Tukur.

Mr Tukur is expected to retire with effect from August 31, 2020, having successfully completed a maximum tenure of 10 years.

In line with the succession policy of the company, the board has approved the appointment of Mr Obiagwu to fill the position effective September 1, 2020.

In a statement, the company said it will miss the “passion and exemplary leadership” of the outgoing boss, wishing him the very best in his future endeavours.

He joined the board as a non-executive director on September 3, 2004, and was appointed MD/CEO on June 1, 2010.

Mr Tukur has been the driving force in the transformation of the company over the last 10 years, the statement noted.

It said under his leadership, Eterna experienced a year-on-year increase in its annual turnover from N9 billion at the end of 2009 to N229 billion as at December 31, 2019.

The company’s net assets grew from N3.9 billion in 2009 to N12.4 billion as at December 31, 2019, from internally generated cash flows.

The board declared and paid dividends for the first time in its history during his tenure, a feat which was sustained in subsequent years.

Over the past decade, the organisation’s fortunes have been completely transformed, with the expansion of its retail stations from 10 to 60 retail outlets, including mega stations strategically located in major cities nationwide.

It was observed that the lubricants business has also witnessed strong growth from its expanded relationship with Castrol across the lubricants value chain.

The firm’s continuous investment in its state-of-the-art lubricant blending plant located at Sagamu, Ogun State is a key pillar in the deployment of its lubricants strategy and was pivotal in its recent selection by NNPC Retail as its lubricant manufacturing partner following a competitive bidding process.

The company’s business activities were further diversified into international trading of crude oil, condensate, LPG and crude for product swap contracts and have led to very strong relationships with major global trading companies and refiners.

Mr Tukur conceptualised and oversaw project LEAP, which commenced with Business Process Re-engineering and led to the automation of key processes and the successful deployment of an ERP.

The development of a long-term strategic blueprint, a robust Performance Management System, Enterprise Risk Management Framework (ERM) and a Corporate Governance Framework bespoke for the company were all undertaken as part of corporate transformation initiatives under project LEAP.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Jobs/Appointments

Chemical and Allied Products Appoints Jethro Iruobe as Executive Director

Published

on

Jethro Iruobe

By Aduragbemi Omiyale

The chief operating officer of Chemical and Allied Products (CAP) Plc, Mr Jethro Iruobe, has been appointed as an executive director.

A statement from the organisation disclosed that the appointment is effective June 25, 2026.

In his new role, Mr Iruobe will participate in the formulation and execution of the company’s strategic priorities, provide executive leadership across critical functions, and contribute to its continued growth, sustainability and success.

The new board member joined the firm in 2019 as Head of Human Resources before growing to become the COO, with responsibility for Human Resources, Corporate Communications, Administration, Fleet and Commercial Excellence.

He has over 19 years of experience across a range of industries, including financial services, consulting, FMCG and manufacturing, having begun his career in banking before kicking off his HR career at KPMG and going on to hold senior roles at Promasidor Nigeria, Coca-Cola HBC and TGI Nigeria.

Throughout his career, he has supported organisations in building high-performing teams and driving sustainable business growth.

Beyond his corporate responsibilities, he is a columnist with Business Day Newspaper, a trained relationship counsellor and co-author, and a recipient of awards in both the human resources profession and other platforms.

Mr Iruobe holds a Bachelor’s degree in Mathematics and Economics from the University of Benin and a Master of Business Administration (MBA) from the Manchester Business School, United Kingdom. He is a certified Project Management Professional (PMP) and also holds the Global Professional in Human Resources (GPHR) certification awarded by the Human Resource Certification Institute.

Continue Reading

Jobs/Appointments

Board Picks Malolan Sampath as Champion Breweries CEO After Adoga’s Exit

Published

on

Malolan Sampath

By Aduragbemi Omiyale

Mr Malolan Sampath has been appointed as the new chief executive of Champion Breweries Plc, effective September 1, 2026.

The appointment of a new chief executive was approved by the board of the brewery giant following the resignation of Mr Inalegwu Adoga.

To ensure continuity during the transition pending Mr Sampath’s assumption of office, the board has appointed Mr Rasheed Ademola Adebiyi, Executive Director of Finance, to take charge of the affairs of the organisation.

In a statement, the board said it remains committed to the highest standards of corporate governance and to delivering a seamless leadership transition and sustainable value to shareholders and other stakeholders.

The new Sheriff in town, expected to take over next quarter, was described as an accomplished executive with over 26 years of international leadership experience across the beverage, FMCG, manufacturing and agro-industrial sectors, having built and led businesses up to $500 million in scale.

His beverage and brewing experience includes serving as Managing Director of Unique Beverages in Angola and as Sales & Marketing Director for a PepsiCo bottling franchise, in addition to earlier brewing-sector experience.

Most recently, he held the dual role of Managing Director (NPK Joint Venture) and Chief Marketing Officer at Indorama Eleme Fertilisers in Nigeria and previously served as Chief Executive Officer of Global Industries Limited, a Wilmar International joint venture in Zambia.

He holds a Postgraduate Diploma in Management (MBA) from the Symbiosis Centre for Management & HRD, Pune, and a Bachelor of Business Administration from the University of Chennai.

The board expressed confidence that his expertise in manufacturing excellence, commercial execution and business transformation will support the company’s strategic objectives and long-term growth.

Continue Reading

Jobs/Appointments

Julius Berger Appoints Muiz Banire, Chinazo Okoye to Board

Published

on

muiz banire

By Aduragbemi Omiyale

Erudite legal practitioner, Mr Muiz Banire (SAN), has been appointed to the board of a construction giant, Julius Berger Nigeria Plc.

He joins the board of the organisation as a non-executive director, with effect from July 1, 2026, alongside Mrs Chinazo Okoye, who is an alternate director to Dr Ernest N. Azudialu-Obiejesi.

A statement from the company secretary, Ms Cecilia Ekanem Madueke, said Mrs Okoye is a graduate of the University of Michigan, Ann Arbor, Michigan, USA, and holds a Bachelor of Science in Mechanical Engineering, Master of Engineering Degree in Mechanical Engineering from the Cornell University, Ithaca, New York, USA, and a Master of Science Degree in Professional Accountancy from the University of London, London, UK.

She is a Chartered Certified Accountant (ACCA) of the Association of Chartered Certified Accountants. She has worked in various positions in various companies and is currently the Managing Director of Amaranta Trading Limited.

As for Mr Banire, he is a graduate of the University of Lagos and holds a Master of Laws Degree as well as a Doctor of Philosophy Degree from the same university.

He was called to the Nigerian Bar in 1989. He also holds a Master Certificate in the Arbitration Master Course from the Lagos Court of Arbitration Training Institute. He was admitted to the Inner Bar and conferred with the rank of Senior Advocate of Nigeria (SAN). He is a Member of the International Bar Association, the Institute of Chartered Secretaries and Administrators, an Associate Member of the Chartered Institute of Arbitrators, a Fellow of the Institute of Transport Administration of Nigeria, and the Nigerian Institute of Management. He is registered with the Law Society of England.

He had served in various capacities in the Legal profession, academic community and publicly. He was conferred with the National Honour of the Officer of the Order of the Niger (OON).

He is the Founder and Principal Partner, M. A. Banire & Associates, Member of the Board of Trustees, Fountain University, Osogbo, Osun State, and Pro-Chancellor of the University of Uyo, Akwa Ibom State.

Continue Reading

Trending