…as Kostianis steps down
By Damilare Adeleye
PZ Cussons Nigeria Plc has announced the appointment of a new Managing Director/Chief Executive Officer and an Executive Director/Chief Financial Officer, following the resignation of its current CEO, Dimitrios Kostianis.
The company disclosed these leadership changes in a notice to shareholders and the Nigerian Exchange Limited on Monday, June 1, stating that the appointments had been approved by the Board of Directors and would be presented for ratification at the next Annual General Meeting.
According to the company, Kostianis stepped down as Managing Director/Chief Executive Officer effective May 31, 2026, to assume a new position within the global PZ Cussons Group.
The board credited him with leading a significant turnaround of the Nigerian business during a challenging economic period, which included restoring profitability and returning the company to a positive equity position.
Commenting on his departure, Board Chairman Ifueko M. Omoigui Okauru praised Kostianis’ contributions to the company over the years.
“On behalf of the Board, I would like to thank Dimitrios for his service to the Nigerian business, where he has played a number of important roles during his 30 years with the PZ Cussons Group.”
“He will leave a significant legacy, having successfully led the business through challenging macroeconomic conditions and creating the foundations for a strong future,” she said.
To succeed Kostianis, the board appointed Oghale Joseph Elueni as Managing Director and Chief Executive Officer, effective June 1, 2026.
Elueni currently heads the company’s Consumer business and has been with PZ Cussons Nigeria since 2021. Before joining the company, he held senior leadership positions across Africa and the United States.
The company stated that he brings more than two decades of experience in the fast-moving consumer goods (FMCG) sector, alongside extensive expertise across Nigeria and other emerging markets.
“The Board is confident that his leadership capabilities, commercial experience, and deep understanding of the business will support the continued growth and strategic direction of the Company,” the statement read.
In a related development, the board also appointed Ebenezer Oludare Elusakin as Executive Director and Chief Financial Officer, effective June 1, 2026. Elusakin has served as the company’s Chief Financial Officer since November 2024 and previously held finance leadership roles at Unilever.
Jonathan Myers, the Chief Executive Officer of the global PZ Cussons Group, commended Kostianis for his impact on the Nigerian business and expressed confidence in the incoming leadership team.
“I want to add my thanks to Dimitrios for his positive impact on our Nigerian business, and to welcome Oghale and Ebenezer to their new roles at a very exciting time in our evolution as a company,” Myers said.
He reaffirmed the group’s commitment to the Nigerian market, noting that the company has maintained a continuous presence in the country since 1899.
“We are fully committed to continuing to invest in and build our business in Nigeria, a country where we have been present continuously since 1899,” he added.