Board of Transcorp Appoints New President/CEO

26th April 2017

Nigeria’s leading listed conglomerate, operating in the power, oil and gas, hospitality and agro-industry sectors, Transnational Corporation of Nigeria Plc, has named Adim Jibunoh as its new President/Chief Executive Officer.

 

Mr. Jibunoh will succeed Emmanuel Nnorom, who has been appointed President of Heirs Holdings, the Lagos based pan-African investment firm. Mr Jibunoh, who is currently Director, Business Development at Heirs Holdings, a strategic investor in Transcorp, will commence his position beginning June 2017.

 

Adim Jibunoh, a First-Class graduate in economics from the University of Port Harcourt, has spent seven years at Heirs Holdings, holding a series of senior positions and has a background in banking, serving as an Executive Director of Standard Trust Bank Plc and Chief Executive Officer of Continental Trust Bank. He is also a non-executive director of Avon HMO and Heirs Insurance Brokers , other  members of the Heirs Holdings group of companies.

 

Commenting on the new appointment, Chairman, Heirs Holdings and Transcorp, Mr. Tony O. Elumelu, said:

“Adim has made a considerable contribution towards the growth of Heirs Holdings. He is highly respected within the Group and has a record of outstanding leadership and the ability to innovate and execute.

Transcorp has a very special mission in Nigeria – we want to be the biggest provider of power to the Nigerian economy; we want to put light in homes, schools and hospitals; we want to provide the power for Nigeria’s industrialisation; and when foreign investors come to Nigeria, we want to host them in our Transcorp Hilton hotels across Nigeria; and we want to supply indigenous oil and gas to power our industries and infrastructure. I am very certain that Adim will help us deliver on these big dreams.”

 

Commenting on his new role, Mr Jibunoh expressed his commitment to helping Transcorp reach its strategic objectives. He stated that he will continue to work and live by the company’s values of “execution, enterprise and excellence”, while honouring the Group’s commitment to creating jobs, community empowerment, and improving the quality of life of all Nigerians.

 

Transcorp recently announced a 46% [year-on year] revenue growth of N59.42bn at its 9th Annual General Meeting. The firm’s 2017 objectives include increasing the available capacity of Ughelli Power Plant, Nigeria’s largest capacity gas generating plant, to 850MW; the $100m renovation of the Transcorp Hilton Abuja; and the conclusion of exploratory drilling of Transcorp’s oil well, OPL 281.