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UACN'S YOUNGEST CEO EVER
April 21, 2007
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How do you manage a food-focused conglomerate? This question remains a major demand in a situation where multinationals are quickly making inroads into the growth areas of most emerging markets since the lid on globalization was let loose.
Do you go for one that will make a generational statement or “same of the same” that would be using the past as a major working tool” Or do you go for a generalissimo as opposed to a youthful strategist? Whatever is the answer must derive from the anticipation of stakeholders and the direction of the new economy which favours the use of urbane moderate and debonair executives that look at the future. Below the ages of 40, such skills abound but within the early 40s there is an admixture of such skills with the Wisdom of Solomon.
UACN Plc is witnessing a revolution from all the cylinders of its long standing merchandising milestone in the Nigerian economy. At 42 years, Larry Ephraim Ettah is mounting the saddle as the conglomerate's youngest Chief Executive Officer known to history, some few years younger than the record kept by Honourable Ernest Shonekan. What this means is that the company now has a Managing Director who can stir the ship of the conglomerate for the next eighteen years, all things being equal. This long term management plan is a plus for stakeholders whose fortunes have recently been experiencing some strategic rise, reflecting the expectations from a company that sets the pace for commercialisation in the country. My last visit to Akasa, at the centre of Atlantic, and the first operational base of the old UACN gave me the real picture of what the UACN phenomenon really means to Nigeria 's economic development.
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Bringing in a master strategist to manage such a company could be described as the height of an attempt to benchmark a Nigerian company along the global trends for the conservation of growth standards and focused innovation. What this means is that the UACN will become the arrow head of the exploration of new incentives and aspiration that will offer a lot of fillip to the expectations of the Nigerian economy within the short and long term blasts. The young, humble and enterprising Chief Executive, who was last week described by an officer of ACTIS as the “rave of the moment” is not accepting this position lying down.
“It is a feeling of profound responsibility in the sense that you are given opportunity to stir the ship of such a great institution that has significant history and legacy. I see it as that level of responsibility. I also see it as an opportunity to prove that good as it is, that UACN is growing. It can still get better. An opportunity to ensure that we enact a strategy that will give significant value to our shareholders. An opportunity to contribute to building a better society through UACN and impact it has within the environment itself. So, I think for me personally, it is part of what happens in an organisation like this. You are trained, given the kind of exposure you had from early time you came in as just a young manager to manger of enterprise. So, the kind of exposure you have prepares you for the kind of responsibility that has come your way... But, I think too that I am lucky in the sense that I have a board that I am working with; and a very experienced board, a board which also has significant diversity…” Ettah explained.
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Generally seen as a strategy person in comparison with the past Chief Executives of the conglomerate. It is believed that the company will yet undergo some extensive restructuring efforts that will further buoy the fortunes of the investors whose investments have been appreciating in leaps and bounds, considering the rising value of the stocks of the company and those of its numerous subsidiaries since the last five years when it broke loose from a miserly N6 share price to about N38 at present. He sees strategy as conversations, and continuously having those discussions, those robust dialogues about what he future should be for the company, and what should be the arena of play of the company to ensure the delivery of shareholders value. This means he must take those decisions along with his key workmen in strategy setting, risk assessment, talent development and other intentions that will be seen to uplift the new goals for the company. He believes that he will continuously be keeping his eyes on the portfolios of the company so as to realign them with the favourable trends that would emerge with the market growing forward, because the competition and landscape two years ago would be different from what it would be in the next five years. The Youngman is looking at the future proactively so as to unlock whatever further opportunities that could be available.
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