Following the recent restructuring of five DisCos in Nigeria, Dr Benson Uwheru, has assumed office as the new MD/CEO of the Port Harcourt Electricity Distribution (PHED) Plc.
Uwheru takes over from the former MD/CEO of the company, Dr Henry Ajagbawa, who has been appointed to take charge of the Benin Electricity Distribution Company (BEDC).
A statement signed by the Head, Corporate Communications, PHED, John Anonyai said, Ajagbawa moved PHED from a loss to a profit-making organization within one year of his appointment as the Managing Director/Chief Executive Officer (MD/CEO) of the company.
Also, a new Board has been constituted for the PHED Plc following the restructuring.
The new board has Iboroma Akpana as chairman; while members includes Emmanuel Okotete; Eyo Ekpo; Ismaila Shuaibu; Alex Okoh – representing the Bureau for Public Enterprises (BPE).
“All appointments take immediate effect,” the statement said.
Some of the strides Ajagbawa attained are; a total transformation of the work culture in the company, including improved staff welfare, development and expansion of technical, structural and other critical infrastructures that has stabilised the DisCo and its operations across its franchise area.
During his stint at PHED, Ajagbawa achieved an unprecedented growth in collection of revenue by over 120percent.
He also institutionalised corporate governance as the hallmark of the company’s modus operandi as outlined in over 100 policies and processes that has become part of PHED’s treasures.
Interestingly, the Federal Government, in her wisdom, appointed yet another cerebral administrator, Dr. Benson Uwheru, Doctor of Science, Financial Management (Honoris Causa), MCIU to take charge.
He is a Strategy and Risk Compliance expert, a respected thought leader across several areas of Corporate Governance and Compliance.
He comes in to ride on these milestones and take PHED to even greater heights.
Uwheru is a faculty member of the West African Institute of Financial and Economic Management (WAIFEM).
He pioneered the establishment of the Corporate Governance Centre of Excellence in Nigeria and the Financial Services Governance and Risk Academy.
An energy consultant, he worked with several clients in the power sector, formulating investment strategies, including mergers and acquisitions, leading to international expansion and diversification into new businesses.
He also led the review of the power sector market study with clear recommendations on challenges in the sector.
In Africa, he propelled the Corporate Governance Framework and Board Operations across sectors in 18 countries across the continent.
Until his appointment at PHED, Uwheru was a Partner at Ernst & Young and a Banking and Capital Market Sector Leader for West Africa.
He has extensive experience in Leadership, Corporate Governance, Strategy, Risk Management and Compliance.
Uwheru holds a degree in Accounting.
He is an Associate Member of the Chartered Institute of Bankers (ACIB), a Fellow of the American Academy of Financial Management, Fellow, Association of Enterprise Risk Management Professionals, and a Certified Risk and Compliance Management Professional (CRCMP).
