WorldStage– PZ Cussons Nigeria Plc has released its 2025/2026 Corporate Governance Compliance Report, detailing significant changes to its senior leadership team and ongoing corporate governance initiatives.
Key Leadership Transitions
The Consumer goods giant confirmed major board and executive adjustments effective at the close of its financial year ending May 31, 2026:
Chief Executive Officer: Mr. Dimitrios Kostianis stepped down as Chief Executive Officer on May 31, 2026. Mr. Oghale Elueni, previously Managing Director of the “Family Care” division, succeeded him as Managing Director and Chief Executive Officer, effective June 1, 2026.
Chief Financial Officer: Mr. Ebenezer Elusakin was appointed as Executive Director and Chief Financial Officer, effective June 1, 2026.
Human Resources: Ms. Joyce F. Coker resigned as Executive Director and Human Resources Director on April 17, 2026, with Mr. Wilson Alegun assuming the role of Acting Head of Human Resources.
Company Secretariat: Following the conclusion of Alsec Nominees Limited’s tenure on June 30, 2026, Ms. Oghenekevwe Ogefere was appointed as Company Secretary effective July 1, 2026.
Board Resignations: Non-Executive Director Mr. Kareem Moustafa also resigned from the board effective May 31, 2026.
Corporate Governance & Debt Restructuring
Chaired by Mrs. Ifueko M. Omoigui Okauru, MFR, the board maintained high compliance standards with the Nigerian Code of Corporate Governance (NCCG) 2018 under an “Apply and Explain” framework. During the reporting period, the board engaged independent external experts to evaluate strategic restructuring options, including a debt-to-equity conversion proposal submitted by its majority shareholder, PZ Cussons (Holdings) Ltd.
