UAC of Nigeria Plc has announced significant changes to its Board of Directors, as its Group Investment Director, Mr. Adebolanle “Debola” Badejo, transitions to the Board of UPDC Plc. This development was officially disclosed in a notice filed with the Nigerian Exchange Limited (NGX), signed by the Company Secretary, Ayomipo Wey.
The company stated that Mr. Badejo’s appointment to the UPDC Board became effective on July 13, 2026. This strategic move is part of UAC’s ongoing efforts to strengthen governance and enhance strategic oversight across its diverse group operations.
UAC emphasized that the appointment aligns with its board renewal strategy. This strategy aims to integrate specialized expertise that supports growth and value creation across its key operating businesses, including food, real estate, and paints.
Despite stepping down from the UAC Board, Mr. Badejo will maintain his role as a member of the Group’s Executive Committee. He will continue to report directly to the Group Managing Director, ensuring continuity in strategic initiatives.
The change will allow Mr. Badejo to focus more closely on portfolio governance and value creation across UAC’s operating companies. His responsibilities will also include leading the Group’s mergers and acquisitions programme, overseeing the divestment of non-core businesses, and driving capital allocation decisions for major strategic investments across the Group.
Beyond his new role at UPDC, Mr. Badejo holds several other significant board positions within and outside the UAC Group. He currently serves as a Non-Executive Director and Chair of the Risk Management Committee at Chemical and Allied Products (CAP) Plc, and as a Non-Executive Director at C.H.I. Limited.
Additionally, he is a Non-Executive Director and Chair of the Risk and Governance Committee at DP World Logistics Limited. His extensive board service also includes positions at Grand Cereals Limited, Livestock Feeds Plc, UAC Foods Limited, and UAC Restaurants Limited, where he chairs or serves on various governance, risk, audit, and human resources committees.
Mr. Badejo brings over 18 years of experience in investment banking, private equity, and corporate leadership across Africa. As Group Investment Director at UAC of Nigeria Plc, he has been instrumental in leading the company’s investment strategy and capital allocation activities.
Prior to this, he served as Chief Executive Officer of UAC Restaurants Limited. His earlier career includes a role as Principal at Themis Capital Management, where he helped execute strategic investments in high-growth African businesses, including the investment in UAC of Nigeria Plc.
He also held investment banking roles at Standard Bank in Johannesburg, working on more than $2 billion worth of mergers, acquisitions, and capital market transactions across sub-Saharan Africa. Furthermore, he worked at Morgan Stanley in New York within its Natural Resources Group.
Mr. Badejo holds an MBA from Columbia Business School and a Bachelor of Science degree in Systems Engineering from the University of Virginia.
These board changes follow UAC of Nigeria’s completion of the consolidation of its acquisition special purpose vehicle, UAC Food and Beverage Company Limited, into C.H.I. Limited, months prior. This move, completed around February 5, 2026, was described as an administrative step to simplify its corporate structure, with no impact on operations, earnings, or shareholder interests.
