United Capital Plc has announced the retirement of Prof. Chika Mordi, Chairman of the Board, and Mr. Emmanuel Nnorom, Non-Executive Director.
This transition is in full compliance with the recent directive from the Securities and Exchange Commission (SEC) on board appointments and director tenure for capital market operators and publicly listed companies.
Their retirement marks the successful completion of their tenures on the Board, during which they both played instrumental roles in steering the Group’s strategy, growth, and transformation.
During their tenure, they provided visionary leadership and strategic oversight, bringing decades of industry expertise and boardroom excellence that significantly contributed to the growth and transformation of the Group.
Both directors have expressed their support for this development, recognizing the importance of adhering to the SEC’s guidelines and the role these regulations play in ensuring effective governance and long-term sustainability in the capital markets.
Prof. Chika Mordi, who joined the board of United Capital Plc as a Non-Executive Director in January 2013 and served as Board Chairman since 2014, brought to bear his decades of cross-sectoral experience in financial services, public policy, and strategic advisory.
He provided visionary leadership that saw the institution through substantial transformation and the implementation of robust governance frameworks. Under his leadership, the Group recorded significant business growth, innovation, and regional expansion, while strengthening its corporate governance framework. His strategic oversight has helped shape United Capital Plc into a high-performing, pan-African financial services group.
Mr. Emmanuel Nnorom, who also joined the Board in 2014, served with distinction, leveraging his wealth of experience as a seasoned finance executive and business leader to drive accountability, strategic oversight, and stakeholder value. He brought deep operational insight, fiscal discipline, and risk management practices to the Board. His steady guidance significantly contributed to the Group’s sustained performance and shareholder confidence.
Their visionary leadership and strategic oversight ensured a sustained period of growth, robust expansion, and governance enhancement. Their experience, industry expertise, and boardroom excellence significantly contributed to the growth and transformation of United Capital Group.
Both directors have expressed their support for this transition, recognizing the importance of adhering to the SEC’s guidelines and the role these regulations play in ensuring effective governance and long-term sustainability in the capital markets.
United Capital Plc expresses profound appreciation to both leaders for their years of service, invaluable contributions, and alignment with our governance principles.
In accordance with our Board Succession Plan, and in line with regulations and our corporate governance framework, the Board has appointed Uche Ike as Chairman of the Board of Directors.
About Mr Uche Ike
Uche Ike is an experienced finance professional who holds a B.Sc. degree in Accountancy, and a Master of Business Administration. He is an Associate Member of the Institute of Chartered Accountants of Nigeria (ICAN). He has over three decades of banking experience spanning Operations, Internal Audit, Enterprise Risk Management, Fraud Management, and Regulatory Compliance.
He was the General Manager of UBA New York Branch and had also previously supervised operations in the East and South Banks of UBA Nigeria. He rose to the position of Executive Director, Risk Management, Compliance, and Corporate Governance at United Bank for Africa [UBA].
Uche is an alumnus of the Institute of Management Development (IMD) Lausanne, Switzerland, INSEAD, France, as well as the Chicago Booth Executive Program, USA. Prior to his appointment as the Board Chairman, he was the Chairman of the Board Risk and Investment Committee.
He brings a wealth of industry experience, strategic foresight, a strong track record of leadership, and commitment to excellence that will support the Group’s next phase of growth. He will guide the sustenance of the company’s forward momentum and further drive United Capital’s vision of becoming Africa’s foremost investment and financial services group.
Commenting on the board leadership transition, Group Chief Executive Officer of United Capital Plc, Mr. Peter Ashade, had this to say:
“We are deeply grateful to Prof. Chika Mordi and Mr. Emmanuel Nnorom for their outstanding service and transformational leadership. Their contributions have left an indelible mark on our business, culture, and governance. Their legacies are woven into United Capital’s success story, and we salute their efforts. As we welcome Uche Ike as our new board chairman, we are confident that his wealth of knowledge, extensive experience, and strategic foresight will propel United Capital Plc to even greater heights. With his leadership, we are well-positioned to deepen our impact and deliver even greater value to our shareholders and stakeholders across the continent.”
United Capital Plc reaffirms its unwavering commitment to strong corporate governance, regulatory compliance, and global best practices in board composition and leadership succession. We will continue to meet the evolving expectations of our investors and regulators. This leadership transition exemplifies our proactive approach to board renewal and long-term sustainability.
United Capital Plc remains resolute in its mission to build Africa’s leading investment and financial services group, while maintaining robust governance structures in line with both local regulatory expectations and international standards, ensuring we continue to deliver exceptional value to all stakeholders.
