Tony Elumelu has just been named Chairman of Seplat Energy.
Six months ago his Heirs Energies paid $500 million for a 20% stake. Single biggest shareholder in the company. Now he’s taking the head of the boardroom too.
This is how it actually works. You don’t ask for control. You buy the position, and the title follows.
And look at what he already holds. UBA in banking. Transcorp in power. Now Seplat in oil. One man at the head of the table in three of the sectors that move this country.
New CEO steps in this August. His chairman seat starts January.
This is what long-term thinking looks like. Position quietly, and let the results speak.