Bode Emmanuel retires as Chairman of UAC’s Grand Cereals Limited

Grand Cereals Limited (GCL), a subsidiary of UAC of Nigeria Plc has announced the retirement of Chief Bode Emmanuel as its Board Chairman.

Commenting on Chief Emmanuel’s retirement, Daniel Agbor, Chairman of the Board of Directors of UAC of Nigeria PLC, said, “Since joining Grand Cereals, Chief Emmanuel has been at the forefront of innovative developments that have taken the company to the leadership position in the industry. For instance, he is credited with playing a leading role in the expansion of the company’s production footprint to Onitsha, Anambra State via a state-of-the-art plant.

This has considerably improved our production capacity leading to a sizable increase of market share. He was also instrumental to the diversification of the company’s product range to improve returns on a risk-adjusted basis leading to the production of fish, ruminant and pig feed in the livestock category and dog food in the pet category.”

Thanking the board and shareholders of GCL for the opportunity to serve as chairman, Chief Emmanuel said, “I have overseen a period of controlled growth and I am happy to be leaving the company in its current situation, although I’m aware that it is the efforts of all the board members and their teams that got us here. I think it is time for me to rest after a long period of service. I thank you all for the support you have given me. It has not always been easy sitting in this chair, but the best challenges always have their ups as well as downs. I have enjoyed every minute that I have been here, and I am highly convinced that my successor can take the company to even greater heights”.

Chief Emmanuel is a Chartered Accountant par excellence and a Fellow of the Institute of Chartered Accountants of England and Wales (ICAEW) as well as a member of the Institute of Chartered Accountants of Nigeria (ICAN). As a seasoned administrator with a vast wealth of experience, Chief Emmanuel has served as the Chairman of the Board of many local and international corporate organizations. These include: BoriniProno & Co. Limited, Trevi Foundations of Nigeria Limited, Foundation Construction Limited, Saipem (Nigeria) Limited and Hogg Robinson Nigeria Limited.

Others are Nigerian Life & Provident Company Limited, Sterling Assurance Company Limited, Macmillan Nigeria Publishers Limited – Publishers of Primary, Secondary and Tertiary Books and Publications in Africa -amongst others.

Mr Bode Agusto has been appointed to replace Mr Emmanuel as Chairman of the Board.

The incoming Chairman of the board, Bode Agusto, is the founding Managing Director of Agusto & Co., the foremost pan-African credit rating agency and a leading provider of industry research. He is a Chartered Accountant and has over four decades of work experience in both the private and public sectors.

He was an Assistant Vice President in Citibank Nigeria, a Partner in PwC, and Director-General & Adviser (Budget Matters) to President Obasanjo during his second term in office. He was also a non-Executive Director of the National Pension Commission (PenCom), the Shell Nigeria Pension Fund, and a member of the Monetary Policy Committee of the Central Bank of Nigeria.