By NBF News
Listen to article

Neimeth International Pharmaceuticals Plc has announced the appointment of Mr. Emmanuel Ekunno as Acting Managing Director/Chief Executive Officer of the company, following the retirement of Mr. Sam Ohuabunwa.

According to a statement signed by Ambrose Orjiako, Chairman, Board of Directors of the company, the Board has accepted and approved the voluntary retirement of Ohuabunwa as President/Chief Executive Officer of the company, effective August 31, 2011, adding that he would, however, be retained on the Board as a Non-Executive Director.

He said that the new helmsman is expected to build on the foundation of its outgoing CEO and take the company to the next level of improved performance.

Orjiakor said Ohuabunwa joined Neimeth, formerly known as Pfizer, in 1978 and rose to become Managing Director, Chairman and Regional Manager, Pfizer West Africa in 1993.

According to him, Ohuabunwa had in 1997, led one of the earliest Management Buy Out schemes in Nigeria in the acquisition of Pfizer Incorporated's 60 per cent share holding in Pfizer Nigeria.

'Following the acquisition and Pfizer divestment, the name of the company was changed to Neimeth International Pharmaceuticals Plc and Sam became Chairman/CEO and later became President/CEO, relinquishing the office of the Chairman of the Board in line with good Corporate Governance practice,'  Orjiako noted.

He pointed out that Ohuabunwa had within the years as helmsman of the company, undertaken a transformation of the company from total dependence on Pfizer brands to a high level of independence, having developed a full array of its own indigenous brands and products.

Orjiako expressed admiration for Ohuabunwa's zeal and passion for the economic development of the Nigerian economy and in his ability to combine his responsibilities as Chief Executive Officer with leadership of various private sector organisation like the Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMGMAN), the Nigeria Employers Consultative Association (NECA) and the Nigerian Economic Summit Group (NESG).

He said, 'While we wish Sam an enjoyable retirement from Executive functions (As he will be retained in the Board in a non Executive capacity), we are pleased to announce the appointment of Mr. Emmanuel Princewill Bamidele Ekunno as the Acting Officer of the company effective September 1, 2011. '

Mr. Ekunno joined Pfizer Products Plc in 1981 and has risen through several Management positions in Sales and Marketing to reach his current position as the Executive Vice President responsible for the Pharmaceutical Business.

'Mr Ekunno graduated from the University of Ife (now Obafemi Awolowo University ) with an honour's degree in Pharmacy and he is an alumnus of the Lagos Business School.'