|
The current GMD/CEO, Mr. Ayo Ajayi, will be retiring from the Company with effect from 1st January 2007. This retirement and succession process is being implemented by the Board in line with the current Company policy.
With effect from 1st November 2006, Larry will be responsible for the current strategy and long-term plan (LTP) process which is culminating in presentation to the Board in mid-November. Also from 1st November, Larry will assume overall executive responsibility for the running of the business. Ayo will be available, however to help with any handing over issues to ensure a smooth transition. Commenting on today's announcement, the Chairman of the Board, General M I Wushishi (Rtd.) said: “We are fortunate to have an individual of Larry's calibre to take over the helm. Larry possesses deep knowledge of UACN's business & strategy and he perfectly embodies the Company's values.” “We can take great comfort in this smooth transition at the top, which attests to the depth of management talent in UACN and the robustness of succession planning which reflects our commitment to best practice corporate governance.” Ayo Ajayi's career in UACN has spanned over 3 decades, and in January 2000 was appointed GMD/CEO. During this lengthy commitment to UACN he has contributed at multiple different levels to the strong growth and progress of the Company. Larry Ettah, 42, joined UACN in October 1988 as a management trainee. |
