Union Bank Mourns Passage Of Cyril Odu, Board Chairman

The board of Union Bank Plc, on Thursday, announced the death of its board chairman, Cyril Akporuere Odu.
In a terse statement to the Nigerian Stock Exchange (NSE) by Somuyiwa Sonubi, its company secretary, the bank said Odu, 69, passed away on Tuesday, September 17, 2019.
Odu was the Chief Executive Officer of African Capital Alliance (ACA), a leading pan-African private equity firm with over US$1bn in aggregated capital commitments and joined the board of the bank in 2012, becoming its chairman three years later in November 2015.
A graduate of Geology from the University of Ibadan, he had a distinguished 39-year career in Exxon Mobil, rising to the position of Vice-chairman of the board of Mobil Producing Nigeria Unlimited and Chief Financial Officer/Business Services Director of ExxonMobil Upstream Companies in Nigeria.
The bank had earlier announced the retirement of Richard Kramer, a non-executive director from its board, with effect from September 16, 2019, which means two none-executives would be appointed to replace the duo.
Incidentally, Kramer is Chairman of African Capital Alliance, an organization that has pioneered the management of private equity investments in high potential sectors of the Nigerian economy.
A recipient of the Officer of the Order of the Federal Republic (OFR), he was the founder and first vice-chairman of the Nigeria Economic Summit Group and head, Technical Team and member of the Vision 2010 Committee of the Federal Government.