Transcorp Power Appoints 2 New Independent Non Executive Directors

Transcorp Power (Transcorp Power) Plc, has appointed Faith Tuedor-Matthews and Charles Odita as independent non-executive directors, following the approval of the board of directors.

The appointments represent the ongoing commitment of the Transcorp Group to corporate governance best practice, institutionalisation and ensuring that the Board is composed of members who bring a deep understanding of the company’s operating environment.

Transcorp Power, in a release signed by its company secretary, Stanley Chikwendu said: “Tuedor-Matthews is a leader in the financial service industry, with over 40 years of experience. As the former group managing director & chief executive officer of Mainstreet Bank Limited, she spearheaded a significant financial turnaround, recording remarkable results within a short period of time.

“Her track record of success has not only enhanced financial performance across the companies she has led, but has also improved operational effectiveness and stakeholder satisfaction.

“Charles Odita brings over 40 years of experience to the Board of Transcorp Power, of which 30 years were spent in senior and executive level positions in the oil and gas industry. He grew his career at Shell Petroleum Development Company Limited, occupying positions across operations, research, and drilling.

Speaking on the appointment, chairman, Transcorp Power, Emmanuel Nnorom expressed his strong confidence in the new appointees, saying that Transcorp Power will benefit from their immense experience.

He said, “Transcorp Power Plc has achieved significant success in recent years and is positioned to achieve more. At such a time of accelerated growth, we are pleased to welcome Tuedor-Mathews and Odita to the Board of Directors, and we are confident that their extensive experience will be invaluable to us, as we continue to demonstrate our purpose, to improve lives and transform Africa.”

Transcorp Power operates the 972 MW gas-fired Ughelli Power Plant, and together with non-quoted Transcorp Group fellow subsidiary TransAfam Power, which operates the 966 MW gas-fired Afam Power Plant, is a critical element in Transcorp Group’s strategy of transformation by powering homes, schools, hospitals, and industries across Nigeria.