According to UAC, the restructuring is intended to strengthen governance in its operating companies and support the Group’s growth plans.
UAC of Nigeria Plc has announced significant changes to its board structure, appointing its Group Investment Director, Adebolanle Badejo, to the board of UPDC Plc.
According to a regulatory filing signed by Ayomipo Wey, the Company Secretary and Group General Counsel, the appointment takes effect from 13 July.
As part of the restructuring, Mr Badejo will step down from the board of UAC of Nigeria Plc. He will, however, retain his role as Group Investment Director, remain a member of the company’s Executive Committee, and continue to report directly to the Group Managing Director.
“UAC of Nigeria PLC (“UAC” or the “Group”) announces changes to directorship roles across the Group as part of a restructuring intended to strengthen governance in its operating companies and support the Group’s growth plans,” the Group said in a statement.
The company noted that this new arrangement allows Mr Badejo to focus exclusively on portfolio governance and value creation across its operating entities.
Furthermore, Mr Badejo will continue to lead the Group’s mergers and acquisitions programme, oversee the divestment of non-core businesses, and drive capital allocation decisions for major strategic investments.
Alongside his new appointment at UPDC Plc, Mr Badejo will retain his non-executive directorships across several UAC operating companies, including Chemical and Allied Products (CAP) Plc, C.H.I. Limited, DP World Logistics Limited, Grand Cereals Limited, Livestock Feeds Plc, UAC Foods Limited, and UAC Restaurants Limited, where he also chairs or serves on various board committees.
“The board expresses its appreciation to Debola for his valuable service as a Director of UAC of Nigeria PLC and looks forward to his continued leadership and contributions across the Group in his expanded role,” the company said.
