Jobs/Appointments
Sovereign Trust Insurance Chairman Oluseun Ajayi Retires from Board
By Dipo Olowookere
Mr Oluseun Ajayi has retired as the chairman of the board of Sovereign Trust Insurance Plc, a statement from the underwriting organisation has revealed.
It was stated that Mr Ajayi exited the board as director from Thursday, April 10, 2025, and has been wished well in his future endeavours.
In the notice signed by the company secretaries, Equity Union Limited, the board expressed its gratitude to him for his contribution to the growth of the organisation.
Under his leadership, Sovereign Trust Insurance consistently experienced steady and remarkable accomplishments. One of his greatest accomplishment as the pioneer chief executive of the organisation was the successful transition of the company from a Limited Liability underwriting firm to a Publicly Quoted Company in November 2006.
The insurance firm disclosed that it would appoint a new chairman for the company in the coming days.
“Sovereign Trust Insurance wishes to inform the Nigerian Exchange (NGX) Limited, its shareholders and the investing public that Mr Oluseun Ajayi has retired as a director and chairman of the board of directors of Sovereign Trust Insurance with effect from April 10, 2025.
“The board of the company will appoint a new chairman in the coming days and thereafter notify the investing public.
“The board of Sovereign Trust Insurance thanks Mr Oluseun Ajayi for his immense contribution to the company and wishes him well in his future endeavours.
“The exchange and the investing public will be informed of subsequent developments,” the statement said.
Mr Ajayi graduated from the University of Ibadan with a degree in History and Politics. He is an Associate of the Chartered Insurance Institute of London (ACII) and Nigeria (ACIIN).
He has attended various Management and Leadership Development Programmes at different times in the course of his career including the Management Programme at the London School of Insurance.
Mr Ajayi is also an alumnus of the Lagos Business School having completed the Chief Executive Programme. He has also attended leadership programmes at the IESE Business School of the University of Navarra, Spain, the University of Nottingham Business School and the London Business School.
By Aduragbemi Omiyale
Nigerian Breweries Plc has announced the appointment of Mr Thibaut Boidin as its new chief executive, replacing Mr Hans Essaadi, who resigns from the position from June 30, 2025.
The brewer confirmed this development in a statement submitted to the Nigerian Exchange (NGX) Limited on Thursday.
It was disclosed that Mr Essaadi is leaving the seat to take up another role in Poland as the head of Heineken in the European nation.
He drafted to head Nigerian Breweries on July 31, 2021, and his tenure has been marked by significant milestones, including delivering a net revenue of over N1 trillion amidst one of the most challenging economic landscapes in Nigeria in recent history.
His clarity and resilience steered the company through foreign exchange constraints, high inflation, and liquidity pressures, while keeping the organisation fundamentals firmly on track.
He oversaw the firm’s recent business recovery plan which included the raising of N550 billion via a rights issue, the biggest equity raising effort in the Nigerian capital market, and has helped to put the company back on the path of profitability.
His successor will be expected to build on these legacies, particularly because of his experience in the field.
He is currently the Managing Director of Heineken Romania, one of Heineken’s largest operations in Eastern Europe.
He joined the organisation in 2017 as Deputy CEO of France Boissons and added to his scope in 2020 the role of Heineken France Chief Transformation Officer. He was also the Chief
Transformation Officer of Heineken Europe based in Amsterdam before his current role in Romania.
Prior to joining Heineken, Mr Boidin had served as an Officer in the French Armed Forces across different continents before transitioning to the corporate world where he held senior/executive and Managing Director positions in French organisations, including Elis and Veolia.
By Dipo Olowookere
Ms Idu Okwuosa-Okeahialam has been appointed as the new Managing Director of Royal Exchange Plc after successfully undergoing the necessary process prior to her appointment.
Her appointment was approved by the board of the company, a statement from the organisation to the Nigerian Exchange (NGX) Limited disclosed.
It was stated that Ms Okwuosa-Okeahialam will assume the new position from Wednesday, May 21, 2025. She is expected to support the company’s continued growth and success.
Royal Exchange expressed confidence that the new leader of the management team is armed with the requisite skills and experience to make a meaningful contribution to the board.
She is expected to provide strategic leadership while exploring new opportunities for the business.
Ms Okwuosa-Okeahialam is a finance professional with over 15 years’ core experience spanning across various industries including oil & gas; banking; and financial services.
She is experienced in funds management, compliance and risk administration, sales, client relationship management and customer experience.
By Modupe Gbadeyanka
Mr Abdallah Simba has been chosen to lead the operations of Japan Tobacco International (JTI) in Nigeria effective Thursday, May 1, 2025, succeeding Mr Thomas Adams, who has led the Nigerian business successfully over the past four years.
The new General Manager of the organisation in Nigeria recently served as the Country Manager for Slovakia, where he successfully led profitable multicategory growth and operational strengthening, positioning the business for long-term sustainability.
A statement from the tobacco firm said Mr Simba’s appointment underscores its commitment and ambition to deepen its footprint in the Nigerian market.
“I am delighted to lead JTI Nigeria at this time. Nigeria is an important market with tremendous potential, and I look forward to working with the amazing team here to continue to grow our business in a sustainable manner,” Mr Simba said of his new role.
Mr Simba brings nearly two decades of commercial and strategic leadership experience to the role, having held key positions across multiple markets and at JTI’s global headquarters in Geneva, Switzerland.
He joined JTI in Tanzania in 2005 in Marketing before taking on an international assignment in Ireland in 2009. He later transitioned into broader commercial roles, leading various Sales and Trade Marketing capabilities with increasing responsibility.
In 2013, Mr Simba moved to JTI’s global headquarters in Geneva, where he progressed into senior roles within the Global Commercial Strategy function.
In these roles, he led the optimization of business models, guided market strategies, and up-skilled commercial teams across a wide range of markets.
The new General Manager for Nigeria holds a Bachelor of Science degree from Southern New Hampshire University in International Business.
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