Crusader Nigeria Plc announces Changes in Board Composition
Category: Investors NewsBeat
August 2, 2012
Crusader Nigeria Plc has notified The Exchange that at its 42 AGM held on July 26, 2012, Professor M. A. kenku and Mr. Olutola Mobolurin announced their intention to retire from the Board of Directors.
Also, at the meeting of the Board held on the same date of the AGM, Prof. M. A. Kenku (Chairman), Chief (Mrs) O. Okwesa-Doherty and Chief (Dr) Benjamin Adigun tendered their letters of resignation from the Board, effective August 1, 2012.
The Board considered and approved that Mr. Olutola Mobolurin, the Group Managing Director proceed on three months terminal leave, which commenced July 30, 2012.
The Board also considered and approved the appointment to the Board, Dr. Olusegun Oso and Mr. Johnnie F. Wilcox.
Dr. Oso, a Principal and Lead Specialist, is engaged in investment on the Aureos West Africa Fund, Aureos Africa Fund and Africa Health fund. His key responsibilities include, execution of new investment opportunities, Portfolio Monitoring and Corporate Governance within investee companies, structuring and implementing exit transaction at Aureos Nigeria Limited from 2010 to date. From 2006 to 2009, he was with Afrinvest West Africa Limited as its Assistant Vice President/Co-Head, Investment Banking and was saddled with the responsibility of providing structural and valuation advisory services on a variety of M&A, recapitalization and restructuring deals. He has also worked at PriceWaterHouseCoopers, Leadbank Plc/Lead Capital Limited and Accenture, First City Monument Bank Plc, Lagos State Hospital Management Board, University College Ibadan among others at senior management levels.
Wilcox has over 36 years’ experience as professional Risk Manager in Insurance/Reinsurance. He attended London School of Insurance and University of Nottingham/City University Business School.
He successfully established United African Insurance Brokers Limited in 1992 and built it into a major African Reinsurance Broking Firm. Implemented and Coordinated the First Energy Insurance Consortium in Nigeria. He also served as Chairman of the Protocol, Reception and Security Committee for the 2000 AIO
Conference produced a blue print for an African Reinsurance Brokers Project for the AIO to create a mega African Reinsurance Broker that will develop expertise and capacity to handle complex risk emanating from the Continent and that compete favourably with the International Reinsurance Brokers. Wilcox is currently working on a prototype for oil and energy reinsurances to be replicated in the West African sub region, building aviation capacity for the insurance industry in the West African sub region and building African Insurance Capacity for power projects including hydro-electric power.
He has served as Executive member, West African Insurance Companies Association, Vice Chairman Governing Council of West African Insurance Institute. Also he is a Board member of so many Insurance Companies in Gambia and Nigeria. He has occupied several senior management positions and he is also a Fellow of so many professional bodies such as Chartered Insurance Institute, Faculty of Risk Management and a member of the Society of Fellows.