UAC Nigeria Appoints 37-Year-Old Babasola Folasope As New MD/CEO

Mr Folasope ‘Fola’ Babasola Aiyesimoju has been announced as the new Group Managing Director/CEO of UAC of Nigeria Plc.

This announcement was made by the board of directors of UAC of Nigeria Plc in a notice to the Nigerian Stock Exchange (NSE) on Thursday.

According to the statement signed by the company’s Legal Adviser, Mr Godwin Samuel, the new Group MD/CEO will assume the position from Monday, 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,” the statement said.

Commenting on the appointment the Chairman of the board of UAC of Nigeria Plc, Mr Dan Agbor, said that 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.

Mr Aiyesimoju is a finance professional with experience spanning corporate finance, principal investing and private equity.

Over the course of his career, he 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. (Hons) degree 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.

Mr Aiyesimoju 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.

Mr 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.

The new substantive GMD/CEO first joined the board of UAC of Nigeria Plc 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 in August, 2018 and, in his capacity as Group MD/CEO of UAC, will serve concurrently as Managing Director/CEO of UPDC PLC until a new Managing Director/CEO is appointed for the subsidiary company.



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