NAHCO appoints new director

Festus Okoromadu

Nigerian Aviation Handling Company (NAHCO) Plc has appointed a new director to fortify its board. The inclusion of Mr. David Thomas as a non-executive director of the company effective December 1, 2012, increased the number of directors on the board to eleven.

Interestingly, only two of the directors on the board are operating in the executive capacity. They are Mr. KayodeOluwasegun-Ojo and Mr. Gordon Gofwan while the remaining nine including the chairman of the board, Alhaji Suleiman Yahyah and his vice Mr. Denis Hasdenteufel are operating in the non-executive capacity.

In what appears to be investors’ positive reaction to the announcement, the equity price appreciated by N0.24 or 3.86 percent to close trading on the floor of the Exchange at N6.45 as against N6.21 Tuesday this week. Investors exchanged a total 2,686,030 units of the stock in 143 deals valued at N17.306 million in the day’s trading session.