Nigerian electric cable maker Cutix Plc has named a new board chairman after as its co-founder Okwudili Nwosu retires.
Mr Nwosu was re-appointed to the board of the company in 2016 as a non-executive director and was appointed the chairman in October 2018.
The company announced the appointment of Ifeoma Nwahiri as the new chairperson of the board.
Mrs Nwahiri was re-appointed to the company’s board of directors in 2016 as a non-executive director.
She was a director of Cutix Plc from 2005 to 2011 and was non-executive director at Adswitch Plc from 2011 to 2013. She holds a law degree from the Imo State University, Owerri.
New director
The company replaced Mrs Nwahiri with Ifeanyi Uzodike as a non-executive director.
Mr Uzodike was the chief executive officer of Cutix Plc from 2008 to 2018 when he retired at the end of his second tenure. He worked with United Jersey Bank in New Jersey from 1989 to 1991 and joined Cutix Plc as a manager in 1991.
The company held its 40th anniversary event on Friday in Anambra state.
The Nnewi-based Cutix Plc makes electrical wires, cables and switchgears. It was listed on the Nigerian Stock Exchange in 1987.
The company posted a revenue of N93 billion for last financial year ending April 2023, up from N7.9 billion a year earlier. It declared N790 million as profit – up from N786 million
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