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PZ Cussons Appoints Oludare Ebenezer Elusakin as New CFO
PZ Cussons Appoints New CFO: PZ Cussons has officially appointed Mr. Oludare Ebenezer Elusakin as its new Chief Financial Officer (CFO). This follows the retirement of the interim CFO.
PZ Cussons Appoints New CFO
The new development, which was released and signed on November 11, 2024, by the company’s secretary, ALSEC NOMINEES LIMITED, was made public via the Nigerian Exchange (NGX) and communicated to shareholders.
Effective November 11, 2024, the appointment came after the conclusion of the interim tenure of Mr. Brian Egan, whose contract expired the same day.
In its announcement, PZ Cussons expressed sincere appreciation for Mr. Egan’s significant contributions during his interim role and wished him success in his future pursuits.
The company also expressed strong confidence in Mr. Elusakin’s capabilities to make meaningful contributions in his new position, highlighting its commitment to ongoing growth and value creation.
About The New CFO
Mr. Elusakin brings over 18 years of extensive experience as a commercial and financial strategist, having worked across various industries and sectors.
His expertise spans areas such as Financial Planning and Analysis, Business Performance Management, Strategic Planning, and Project Management, alongside skills in Process Optimization, ERP Implementation, Controllership, and Compliance.
Throughout his career, Mr. Elusakin has held senior financial leadership positions in prominent multinational companies across sectors such as Fast-Moving Consumer Goods (FMCG), healthcare, technology, manufacturing, renewable energy, hospital management, and quick-service restaurants.
He has worked with global corporations such as Unilever, Diageo, and Royal Philips. A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), he has also attended executive programs at reputable institutions, building his expertise in finance.
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PZ Cussons Commitments To Maintaining Standard Governance
The current interim CFO, Mr. Brian Egan, is scheduled to officially depart from the company on December 20, 2024. In a recent announcement, the Board of Directors of PZ Cussons expressed their gratitude for his contributions:
“The outgoing CFO, Mr. Egan, will leave the organization on December 20, 2024, after demonstrating unwavering dedication and professionalism. We thank him for his significant contributions over the years and wish him success in his future pursuits.”
The company also reiterated its commitment to maintaining the highest standards of corporate governance, ensuring a seamless transition as Mr. Elusakin assumes his new responsibilities.
According to Nairametrics, PZ Cussons’ stock has experienced fluctuating price movements throughout 2024, reflecting the market’s responsive nature to the company’s performance and strategic choices. Earlier this year, the stock reached a high of N38 per share in March, buoyed by a trading volume of 8.6 million shares and strong buying interest from the previous year.
By May, however, the stock encountered a significant drop, falling to N22 per share with a market volume of 20.3 million shares. Nevertheless, a resurgence of bullish activity in October and early November has led to a recovery of over 15% in the stock price.
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