The board of directors of UAC of Nigeria Plc (UAC) has announced the appointment of Mr. Folasope Babasola Aiyesimoju as the company’s group managing director/CEO, with effect from April 1, 2019. The board thanked Mrs. Omolara Elemide for her hard work and dedication to the company as acting GMD/CEO from January 2019.
According to the company, Aiyesimoju is a finance professional with experience spanning corporate finance, principal investing and private equity. In the course of his career, Aiyesimoju has lived and worked in sub-Saharan Africa’s most important economies, gaining experience of the operating landscape in the region. He holds a B.Sc. in estate management from the University of Lagos, where he was awarded a certificate of excellence in real estate development and finance, and earned the right to use the CFA designation in 2006.
He is the founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in sub-Saharan Africa. Prior to founding Themis, he worked with Kohlberg Kravis Roberts, a leading global investment firm. His experience also includes working with the Standard Bank Group, where he led mergers and acquisitions in Nigeria. Aiyesimoju spent the early part of his career with Ocean and Oil Holdings Limited, a principal investment firm in Nigeria, and ARM Investment Managers, one of Nigeria’s leading investment advisory and wealth management firms. He also co-founded Foodpro Limited, a nutritional snacks business focused on edible nuts, where he currently serves as a non-executive director.
Mr Aiyesimoju first joined the Board of UAC in March 2018 and is a member of the Governance and Remuneration Committee of the Board. He was also appointed Managing Director/CEO of UACN Property Development PLC (UPDC) in August 2018. In his capacity as Group MD/CEO of UAC, he will serve concurrently as Managing Director/CEO of UPDC until a new head is appointed for the subsidiary company.
Commenting on the appointment, the Chairman of the Board of UAC, Mr Dan Agbor, said the appointment of Mr. Aiyesimoju as GMD/CEO signifies the company’s ambitions, and the Board’s determination to accelerate the process of change within the Group.