Current News | Archives | Speeches, Reports & Publications | Media Clips | Pictures Gallery
UACN WILL REMAIN A KEY PLAYER IN WEALTH CREATION
May 21, 2007
Who is Mr. Larry Ettah? What is your antecedent? Do you have what it takes to take UACN to the next level?
Mr. Larry Ettah is a Nigerian. I was born 42 years ago. I attended Government College Kaduna from 1975 to 1980. I subsequently got admitted to University of Benin in the same year. I hold a BSc Industrial Chemistry (1985) and MBA (1988) from that University.
I have attended several local and international courses including Unilever Regional Sales programme, Bombay, India; Unilever International Management Seminar, UK and Unilever Advanced Marketing Programme, UK. I am also a graduate of the renowned executive programme of Michigan School of Business, University of Michigan, Ann Arbor, United Sates of America.
I am married to former Miss Ekemere Paulette Omu, a seasoned banker. The union is blessed with two children, Aseobong Omoro and Asari Eromena.
In terms of antecedents, I guess my antecedents that would be more of UACN antecedents that should be relevant here. I have been in this company for 18 years. During that period, I had at various times worked in different businesses.
I entered as a management trainee in 1988. Subsequently, I became a branch manager, GBO, Enugu from 1989 to 1991. I became Staples Manager which was a buying function for GBO. And after that I moved to the packaging business. Kalamazoo business and worked there up till 1993. After that, I went over to UAC Foods as a Divisional Director.
In December 1999, I became the pioneer Divisional Managing Director of Mr. Bigg's. I worked there till 2004. When I became a director of the company, I moved over to the Human Resources, as Head. I was appointed Group Managing Director of UACN January this year.
If you look at the different businesses I've worked, the number of years I've gathered and also the fact that I worked in different functions in different businesses, I think I know this business. I know the intelligent risk to take. I know the chequered history of the businesses. And I also have available to me, a board that supports me And I also have a sound management that is working with me. To that extent, I think we will succeed.
What is the face of the new UACN? Please locate the UACN of your dream in the family of Nigeria 's corporate giants?
UACN of my dream is going to be a key player in Nigeria. In that context, UACN will be number one in whichever business it chooses to play. And critically, UACN is going to be number one in the areas of foods, because it is going to be a food-focused business. UACN will be number one in Real Estate business. UACN will be number one in logistics business.
To that extent, I see a future UACN, which is a relevant UACN, a profitable UACN a key player in Nigeria's economic activities, a key player in corporate social responsibility, a key player in employment generation, and a key player in all aspects of business it is engaged in.
How well have the group played its entire role in the Nigerian economy?
If you look at the history of UACN, it is also the history of Nigeria . UACN has created employment in this country. If you look at our operations, they span different states of Nigeria . There is hardly any state that we don't have business interest. To that extent, we are impacting positively on the economy of the various communities in which we are doing business, through creation of employment, through creation of entrepreneurs and through creation of capital in those environments.
So, we are paying our taxes because we are a successful business. We are paying to government and it (government) is using these taxes for the social benefit of the populace. We have contributed our quota be it in terms of agriculture, food operations and in terms of providing housing for people among others.
As the new helmsman, what would you reverse or change in the way UACN does business?
I tend to look more into the future than looking at the past. I don't know whether I can reverse anything. I think I will be more interested in what I will do. The future is a very bright one. It is a future of a more profitable business. It is a future of a more focused business. It is a future of a business that will reflect a significant, and positive shareholder value creation and returns to our shareholders.
How would you rate this year's performance with the results of 2005?
The results are already in the public domain. I think what should be taken out of the results is that we are improving. But we can do a lot better. I think what I should also do is give our shareholders a significant hope and assurance that this is a business that is poised for growth.
You made extra ordinary items. How would the company survive without these items?
I wouldn't really be thinking of running this company into the future on extra ordinary items. I will be thinking more of running the business on profit from operations. Into the future, we will be looking more at how we will be growing, the fabric of the business, the fundamentals of the business. And that will be achieved from the profit of the operations.
We have a clear strategy in place to invest in those areas that will ensure sustainable returns in terms of profit and also ensure significant earnings growth.
Continue to Page 2  |
