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The Board of United Bank
for Africa Plc (UBA) today announced the appointment of Mr. Tony O.
Elumelu, C.O.N. as Chairman, succeeding Ambassador Joe Keshi.
Mr. Elumelu is
Chairman/CEO of Heirs Holdings, the pan-African proprietary investment
company, founded by Mr. Elumelu in 2010, which holds stakes in a number
of leading African businesses, including Transcorp, Nigeria's largest
listed conglomerate by market capitalization, as well as UBA.
Elumelu retired as Group Managing Director and CEO of UBA in 2010, following
the
introduction by the Central Bank of Nigeria of 10-year tenure limits for
bank CEOs. He had served as CEO of the UBA Group for 13 years, where he
was responsible for the creation of today's UBA, a financial services
institution that built a reputation for innovation and the
democratisation of banking services and now spans Africa, providing
services to more than 10 million customers, across the continent and in
London, Paris and New York.
READ MORE AFTER THE CUT............................
Widely regarded as one
of the most influential business leaders in Africa, Elumelu has
developed a reputation for identifying value and bringing a long term
investment orientation and discipline to sectors critical to Africa's
development, including financial services, power, oil and gas,
agribusiness, real estate and hospitality. As the founder of the Tony
Elumelu Foundation, an Africa-based and African-funded philanthropy, Mr.
Elumelu is committed to the promotion of entrepreneurship in Africa,
based on his championing of Africapitalism, the philosophy that the
African private sector is the critical enabler of the continent's
economic and social transformation.
The Chairmanship of UBA
will complement Mr. Elumelu's existing positions with other Heirs
Holdings' portfolio businesses, including the Chairmanships of Tenoil
Petroleum & Energy Services Limited and Seadrill Limited.
"Tony Elumelu's track
record at UBA speaks for itself," said Mr. Phillips Oduoza, Group
Managing Director/CEO UBA. "His return to the Board brings a depth of
knowledge and experience in the African financial services industry that
is second to none. We are privileged to have him lead the Board at this
critical stage in our development."
Analysts and leaders of shareholder groups also welcomed Mr. Elumelu's return...culled
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