Premier Paints names Emeka Ene Board Chairman after Xenergi takeover
Premier Paints Plc has announced a major board restructuring, appointing Mr. Emeka Ene as Chairman of the Board following the acquisition of a controlling stake in the company by Xenergi Limited. The post Premier Paints names Emeka Ene Board Chairman after Xenergi takeover appeared first on Nairametrics .
Premier Paints Plc has announced a significant change in its board structure following the takeover by Xenergi Limited. Emeka Ene, the CEO of Oida Group and a key executive of Xenergi Limited, has been appointed as the new Chairman of the Board. This move follows the approval of four new directors effective August 31, 2026, pending ratification at the company's Annual General Meeting.
The appointments were made after the retirement of three directors. Emeka Ene is not only the CEO of Oida Group but also has extensive experience in the energy sector, including roles in the International Gas Union and the World Free Zones Organization. The other new board members are Adebowale Fagbemi and Dr. John Erinne, both with over three decades of experience in the oil and gas industry.
The takeover by Xenergi Limited is a result of negotiations that began in December 2025. Xenergi Limited acquired 61 million ordinary shares, representing a 49.60% stake in Premier Paints, after receiving approvals from several regulatory bodies. This acquisition has made Xenergi the majority shareholder in Premier Paints, with a controlling 51% equity stake.
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