PZ Cussons has officially announced the appointment of Mr. Oludare Ebenezer Elusakin as its new Chief Financial Officer (CFO) following the retirement of the interim CFO.
The statement, published on November 11, 2024 and signed by the company’s secretary, was made public through the Nigerian Stock Exchange (NGX) and communicated to shareholders.
The appointment, effective 11 November 2024, follows the end of the interim tenure of Mr Brian Egan, whose contract expired on the same day.
In a statement, PZ Cussons expressed its deep gratitude to Mr. Egan for his invaluable contributions during his time as interim CFO and wished him all the best for his future endeavors.
At the same time, the company expressed its confidence in Mr. Elusakin’s ability to contribute effectively to the role, emphasizing its focus on continued growth and value creation.
About Mr. Ölüdare Ebenezer Elusakin
Mr. Elusakin is an experienced business and financial strategist with over 18 years of professional experience across a variety of industries and disciplines.
His expertise covers areas such as Financial Planning and Analysis, Business Performance Management, Strategic Planning and Project Management, as well as Process Optimization, ERP Implementation, Controlling and Compliance skills.
Throughout his career, Mr. Elusakin has held senior financial leadership roles at leading multinational companies in a variety of industries, including Fast Moving Consumer Goods (FMCG), healthcare, technology, manufacturing, renewable energy, hospital management and quick service restaurants.
He has worked with global companies such as Unilever, Diageo and Royal Philips. A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), he has also developed his expertise in finance by participating in executive programs at reputable institutions.
Transition Period
Outgoing interim CFO, Mr. Brian Egan, will officially leave the company on December 20, 2024. In the statement, the PZ Cussons Board of Directors expressed their appreciation for his service:
“Outgoing CFO Mr. Egan will leave the job on December 20, 2024, after serving the Company with dedication and professionalism. “We thank him for his valuable contributions over the years and wish him success in his future life.”
The company also reiterated its commitment to maintaining the highest standards of corporate governance, ensuring a smooth transition for Mr. Elusakin as he assumes his new responsibilities.
Stock Market Performance
- PZ Cussons’ shares have seen variable price movements in 2024, reflecting the market’s dynamic response to the company’s performance and strategic decisions.
- At the beginning of the year, it peaked at N38 per share in March, supported by a market volume of 8.6 million shares and driven by strong buying momentum continuing from the previous year.
- By May, the stock faced a sharp decline, falling to N22 per share, accompanied by a market volume of 20.3 million shares.
But renewed bullish momentum in October and early November helped the stock recover more than 15%.
