Elumelu’s company, Heirs Holdings, appoints Group CEO

Mr Tony Elumelu’s company, Heirs Holdings, on which he serves as Chairman, at the weekend announced that it has appointed Emmanuel Nnorom as its new Group Executive Officer.

Elumelu, founder and Group Chairman, Heirs Holdings made the announcement on Friday via his Twitter; and stated in a separate statement that: “the creation of a CEO role at Heirs Holdings, demonstrates our continuing commitment to institutionalising effective corporate governance and ensuring that our investment in human capacity matches our ambitious growth strategy.”

A written statement on the company’s website explained that the board of Heirs Holdings had approved the appointment of Nnorom as Group Chief Executive Officer, to “provide day-to-day leadership at Heirs Holdings and be responsible for execution of group strategy for the proprietary investment firm, whose portfolio of investments includes power, oil and gas, financial services, hospitality, real estate and medical services, with a pan-African footprint of 20 countries.”

Nnorom had previously served as chief executive of Heirs Holdings’ affiliate Transnational Corporation of Nigeria Plc, where he was responsible for the success of Transcorp businesses, including Transcorp Power, Transcorp Hilton Hotel, Transcorp Hotel Plc, and Transcorp Energy.

Upon joining Heirs Holdings, where he had also previously held senior positions, Nnorom will report directly to the Group Chairman, Elumelu, and will the statement found on the company’s website continued.

Speaking on the new move, Elumelu added that “Emmanuel is a highly respected member of the Heirs Holdings executive management team and his success at Transcorp, with its multi-sector portfolio and his broader knowledge of Africa and commitment to our pan-African vision, gained at UBA, make him uniquely qualified for the position.”

It will be recalled that Nnorom had served as an Executive Director at UBA and Managing Director of UBA Africa, where he oversaw the Group’s African subsidiaries.

The company, known for promoting entrepreneurship in Nigeria and across Africa, is an African property investment company with interests in Power, Oil&Gas, Financial services, Real Estate & Hospitality and Healthcare.

The Group’s operations are firmly rooted in the economic philosophy of Africapitalism, which positions the Private Sector as the key enabler of economic and social wealth creation in Africa.