Odu’a Investment inaugurates ex-MDs forum to advise management

The management of Odu’a Investment Company Limited, a conglomerate jointly owned by the South-west, including Lagos State, has inaugurated a forum of its former Group Managing Directors (GMDs).  The forum was inaugurated at its headquarters, Cocoa House, Ibadan, last week.  The role of the forum, according to the board chairman, Olusola Akinwumi, and incumbent GMD, […]

The management of Odu’a Investment Company Limited, a conglomerate jointly owned by the South-west, including Lagos State, has inaugurated a forum of its former Group Managing Directors (GMDs).

 The forum was inaugurated at its headquarters, Cocoa House, Ibadan, last week.

 The role of the forum, according to the board chairman, Olusola Akinwumi, and incumbent GMD, Adewale Raji, was to advise the management on its efforts to reposition O’dua as the engine-room for economic development in the South-west.

 At the inauguration were former managing directors Chief F. O. Mogaji (1979 to 1983); Chief Olufemi Adewumi (1990 to 1993); Sir Remi Omotoso (1998 to 2004) and Dr Adebayo Jimoh (2005 to 2014). Some board members of the investment company were also present.

 A statement by its Head of Corporate Affairs, Mr Victor Ayetoro, said the consultative meeting provided a platform for robust discourse by past GMDs/chief executive officers and the board.

 The statement said the continuous growth of its portfolio, diversification, increase in revenue sources and leveraging on its arable farmland for integrated agricultural value chain were discussed.

 Other issues discussed were on power, integrated transport, oversight functions at subsidiaries, governance, discipline among the workers and unity of purpose between the management and the board. 

 The statement indicated that “the forum of ex-GMDs/CEOs was, thereafter, constituted to render advisory services to the board as the need arises, based on the terms of reference to be agreed upon.”