Transcorp, Nigerian conglomerate, appoints new board members, with new subsidiary CEOs

…Famuyibo, Sambo become independent non-executive directors

…Ozoude is MD/CEO of Trans-Afam Power Ltd; Ikenga head Transcorp Energy Ltd

Ben Eguzozie, in Port Harcourt

Transnational Corporation of Nigeria Plc, better known as Transcorp, Nigeria’s largest listed conglomerate and recently leading investor in the Nigerian energy sector, with the acquisition of Afam Power Plant in Rivers State (Trans-Afam Power Ltd), through its subsidiary, Transcorp Power Ltd, has announced new appointments into its board.

Transcorp, which was established in November 2004 is a publicly quoted conglomerate, with a diversified shareholder base of over 300,000.

The newly appointed members of the board of directors are: Victor Famuyibo and Ahmadu Hamman Sambo, with effect from April 22.

Transcorp Group, owners of the iconic Transcorp Hilton Abuja, also, announced the appointments of two new members of its executive management team: Vincent Ozoude, an engineer as MD/CEO of Trans-Afam Power Ltd and Peter Ikenga, MD/CEO of Transcorp Energy Ltd.

Famuyibo is joining the board with deep experience and knowledge in human resources and personnel management. He worked with multinational companies such as UAC Nigeria, Heineken International and Nigerian Breweries Plc, where he led numerous teams to drive strong employee engagement. He retired from Nigerian Breweries Plc as director of human resources and a member of the board after a distinguished career of 32 years in the company.

Sambo has over 30 years’ work experience in the private and public sectors in Nigeria and the United States of America. He retired as group general manager in charge of group finance for the Nigerian National Petroleum Corporation (NNPC).  Prior to this, he was the managing director of NNPC Oilfield Services Ltd, NIDAS Marine Ltd and NNPC Pension Fund Ltd between 2011 and 2016.  In recognition of his meritorious service, Sambo received numerous awards, including the “first-place ministerial award for outstanding staff performance” from the minister of state for petroleum resources. He is a member of the Commonwealth of Massachusetts Board of Accountancy, and State of New Hampshire Board of Accountancy.  He is also a member of the Massachusetts Society of Certified Public Accountants and National Association of Black Accountants.

Vincent Ozoude, the MD/CEO of Trans-Afam Power Ltd, joined Transcorp Group from General Electric (GE) Inc. Sub-Sahara Africa, where he was sales director, covering the entire Sub-Saharan Africa for General Electric Power Generation Services portfolio.  A graduate of Chemical Engineering with Masters in the same field from Enugu State University of Science and Technology (ESUT), Ozoude is leading Transcorp’s recently acquired Afam Generating Company (GenCo), a 966 MW power plant, which comprises Afam Power Plc and Afam Three Fast Power Ltd. Ozoude has over 20 years’ work experience in the power generation services sector. He was at some time a member of GE field engineers advisory board for Africa and Middle East (AME) region, a greenbelt lean six sigma qualified and won numerous awards such as “everyday excellence expertise” from GE Global leadership, Clear Thinker Award amongst others.

Peter Ikenga, MD/CEO of Transcorp Energy would lead the conglomerate’s integrated energy strategy, with particular focus on gas, renewables and alternative energy. He brings with him, a wealth of global professional experience, having directly developed and managed major oil, gas and power assets and operations in multiple regions, including Nigeria, Brazil and the United States of America for Shell Nigeria and Shell International.  Prior to joining the Transcorp Group, Peter was refining director for an indigenous oil and gas operator in Nigeria.

Commenting on the appointments, the chairman of Transcorp Group, Tony O. Elumelu, stated that: “Transcorp has made a succession of important recent business acquisitions, consolidating our position in the power, oil and gas sectors, demonstrating our commitment to Nigeria’s economy and the rapid advance in our integrated power strategy.

Elumelu further said Transcorp Group were delighted to complement these with further investment in human capital. “These announcements illustrate the depth, diversity and quality of experience of our leaders, both executive and non-executive. Our Board and management team, led by the President/Group CEO, Mrs. Owen Omogiafo, are further capacitised to deliver our vision.  Mr. Famuyibo, with his considerable experience in human resources, will be invaluable in working with management to deliver cutting edge employee management practices.  Mallam Sambo brings crucial knowledge of the energy sector, further accelerating our integrated energy strategy.”

The Transcorp Group chairman said: “Peter and Vincent, working with our existing CEOs, Mr. Chris Ezeafulukwe, MD/CEO Transcorp Power Ughelli and Mrs. Dupe Olusola, MD/CEO Transcorp Hotels Plc, will contribute to the Group’s mission of “Improving Lives and Transforming Nigeria.  With the acceleration in our integrated energy strategy and the expansion of our hospitality business, notably the recently launched digital hospitality platform, Aura by Transcorp, we are closer to our goal of powering one in every four homes in Nigeria and redefining the standards of hospitality in Africa.  This investment in human capital demonstrates, once again, our commitment to bring together the best, to ensure the execution and value creation that our stakeholders expect.”