UPDC announces resignation of chairman, CEO, others, appoints replacements

By Kayode Tokede

UACN Property Development Company Plc (UPDC) has announced the resignation of its Chairman, Mr. Babatunde Kasali, and other Non-Executive Directors namely, Mr. Adekunle Awojobi, Professor Okon Ansa and Mrs. Awuneba Ajumogobia from the Board of the Company with effect from 4th January 2021.

The company also announced the resignation of Mr Folasope Aiyesimoju as the Chief Executive Officer of the Company with effect from 4 th January, 2021.

A notification at the Nigerian Stock Exchange said the board accepted the resignations and expressed its deep appreciation to the Directors for their contributions to the Board and the Company.

The Board also accepted the resignation of the CEO and expressed its profound gratitude for his effective leadership during his tenure and that he will continue to serve as a Non-Executive Director of the Company.

Meanwhile, the Company has announced the appointment of Mrs. Deborah Nicol-Omeruah as Acting Chief Executive Officer of the Company with effect from 5th January, 2021.