Odu’a Investment Company’s GMD Retires, Successor Named
Odu’a Investment Company Limited has announced the retirement of its Group Managing Director/Chief Executive Officer, Mr. Adewale Raji, and the appointment of Mr. Abdulrahman Yinusa as the new Group Managing Director / Chief Executive Officer effective 1st of June, 2024.
Odu’a in a statement said Adewale Raji’s retirement follows 10 years of dedicated service as Group Managing Director of the 47 year old conglomerate.
“As Group Managing Director, he oversaw the Group’s return to a growth and profitability trajectory through strategic restructuring of the operating structure of the group to improve efficiency. During his two tenures, the company grew Profit Before Tax (PBT) from N378 million (2013) to a high of N2.2 billion (2021), paid a total of N2.56 billion in dividends so far. The Company diversified into Agribusiness, Oil and Gas and other sectors through strategic partnerships, and repositioned the group’s key subsidiaries and assets.
“Yinusa currently serves as Executive Director, and the Group Chief Financial Officer of Odu’a Investment.
He is a thoroughbred finance professional with over three (3) decades in-depth experience in the Financial Services Industry. He will be responsible for implementing the Group Board’s shared vision and plan, as well as ensure continued execution of existing strategic projects. Prior to joining Odu’a Investment, he retired from Diamond Bank (now part of Access Bank) as an Executive Director and Chief Financial Officer, ”it said
Odu’a Investment has also appointed Mr. Yemi Ajao as Executive Director, and Group Chief Investment and Business Development Officer, a role he will assume on the 15th of January 2024.
Commenting on these leadership changes, the Group Chairman of the Board, Odu’a Investment Company Limited, Otunba Bimbo Ashiru, stated; “Today we announce the retirement of a Group Managing Director who superintended over a pivotal period in Odu’a Investment’s evolution into a world class conglomerate. On behalf of the Board, I will like to express our sincere gratitude to Mr. Adewale Raji for his exceptional leadership, and for steering the ship with such vision, courage and professionalism during his tenure. We are also delighted about the smooth leadership transition, and I will like to congratulate the Shareholders and the Board on Mr. Abdulrahman Yinusa’s appointment. I have no doubt in my mind that he will take Odu’a Investment to another level of growth, especially with the foundations laid over the past few years”.
The outgoing GMD, said: It has been a great honour to have been entrusted by the Group’s Shareholders and the Board to superintend over the affairs of the business from June 2014. The period witnessed remarkable changes in the financial performance and corporate governance standing of the group. I am delighted that the modest successes recorded in portfolio rebalancing and asset optimization in our notable chosen sectors of Real Estate, Hospitality, Financial Services, Agriculture, Energy, etc are going to receive accelerated transformation under my worthy successor (Mr Yinusa) and the excellent crop of talent that the Group has attracted under the support of the Board in these past few years.’’