After 11 years as the Group Managing Director/ Chief Executive Officer UAC of Nigeria Plc (UACN), Mr. Larry Ephraim Ettah will retire from the company on January 1, 2018.
The board of UACN that announced this in a statement yesterday, revealed that Ettah would proceed on his pre-retirement leave from same date.
To this end, the board announced the appointment of Abdul Akhor Bello to succeed Ettah as Group Managing Director/Chief Executive Officer, upon his retirement.
Ettah expressed gratitude to the board, management and shareholders of the company for the privilege and opportunity to have led UACN in the last 11years. He expressed confidence and optimism about the future of the company because of its rich culture, resilience, talents, assets and strong platform for growth.
“Abdul is an ideal and logical successor given his background in UACN and track record of achievement at various levels in the organisation. He has been a strategic partner since 2010 when he was appointed to the board as Chief Financial Officer.
“A role that has acclimated him to understand the challenges, context and evaluate adequacy of response to the work that lies ahead. I believe that the company will be in more than capable hands,” he added,
Commenting on the appointment, the Chairman of the board, Mr. Dan Agbor said: “It is on record that UAC of Nigeria Plc under Larry’s capable leadership has seen a decade of strong performance, growth and significant transformation. We are on course to becoming a N100 billion topline organisation by the end of this year.
“We thank Larry for his invaluable contributions to the Group in almost 30years of service, half of which have been on the Board. Larry will always have an honoured place in the memory of the Company and, on behalf of the Board, we offer him the respect and gratitude of UACN.”
According to him, in the board’s choice of Bello as a successor, the company demonstrated yet again the robustness of its succession planning. This, he said validates the depth of the leadership bench within the business.
“We have every confidence that Abdul has the ability to ensure that, under his stewardship, the company will continue to build on its strong foundations, drive its strategic agenda, and generate competitive returns to our shareholders.”
Born on the 8th of November 1960, Bello joined Grand Cereals Limited (GCL), a subsidiary of UAC of Nigeria PLC, on 23rd October 1989 as Chief Accountant. Prior to joining UACN, he started as Management Trainee in Inlaks Plc in August 1985.