Dipo Olowookere
By Dipo Olowookere
Mrs Bolarin Okunowo has been appointed as the new Managing Director of Chemical and Allied Products (CAP) Plc, one of the leading paint makers in Nigeria.
The rejigging of the board of the company was necessitated by the retirement of the current occupier of the position, Mr David Wright.
Mr Wright is vacating the seat on November 30, 2021, to pave way for Mrs Okunowo on December 1, 2021, a statement signed by the company secretary, Ayomipo Wey, disclosed.
The current MD is retiring from the board and his request to leave has been granted, with the board expressing “its profound gratitude to David for his leadership, hard work, commitment, industry, service and contributions to CAP Plc and wished him all the best as he moves on to retirement.”
As for the incoming CEO, she is expected to drive the growth with her nearly two decades of experience in a range of roles spanning investment banking and financial services, manufacturing, oil and gas, real estate and hospitality.
Mrs Okunowo joined UAC of Nigeria Plc in October 2018 and served as its Investment Executive responsible for managing the company’s investments in its industrial businesses (paints, logistics and real estate).
In her role as an Investment Executive, she was responsible for working with management teams to shape strategy and deliver commercial outcomes.
Prior to joining UACN, she was the Head, Energy & Infrastructure Finance at Stanbic IBTC Capital with responsibility for the oil and gas, power and infrastructure debt finance portfolio.
Before joining Stanbic, she worked with ARM Investments Managers and PricewaterhouseCoopers.
Mrs Okunowo a qualified chartered accountant and holds a Bachelor’s degree in Commerce from the University of Birmingham, UK and a Master’s degree in Information Systems from the prestigious London School of Economics.
She served as the immediate past Managing Director of Portland Paints and Products Nigeria Plc, where she led a turnaround of the business and the implementation of the successful merger with CAP Plc. She was a Non-Executive Director of CAP Plc until July 2020 and is currently a Non-Executive Director of Livestock Feeds Plc.
