The Abuja Electricity Distribution Plc (AEDC) has announced the appointment of Mr Adeoye Fadeyibi as its new managing director/chief executive officer, while also replacing its chief technical officer (CTO).
In a statement on Monday, AEDC said the appointments were with immediate effect. Fadeyibi, who was the MD of Eko DisCo in Lagos, has over 20 years’ executive management experience.
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The erstwhile interim MD of AEDC, Engr Akinwumi Bada, had tendered a 30-day resignation notice on March 23, to exit on April 23. Although he gave no reason for leaving, the interim board of AEDC led by the chairman, Victor Osadolor, was said to have accepted the resignation in good faith.
Akinwumi, the current interim management and the board took over AEDC in December, 2021, from KANN Utility, the core investor in the DisCo following a case of acquisition loan default by the investor with UBA which interest the interim arrangement represents to recoup their fund.
According to the latest statement from AEDC, Fadeyibi, a US-trained mechanical engineer, was also the pioneer MD at Transcorp Power Ltd, Ughelli, Delta State, joining from General Electric.
AEDC also announced the appointment of Engr Kassim Abdulahi Burkullu as its new CTO, replacing Mr Oluwafemi Zacchaeus who had served in interim capacity.
Burkullu, a seasoned engineer and energy industry expert, brings over 25 years’ experience. He joins AEDC from Kano DisCo where he was head, corporate technical operations services.
Commenting, chairman of the board of AEDC, Mr Osadolor, said, “We are very delighted that both Fadeyibi and Burkullu are joining our company and bringing with them exceptional abilities and invaluable industry expertise. They will effectively complement the component of the management team already in place.”
For Fadeyibi, he comes with confidence to reform the DisCo, saying: “I have studied the strategic focus of this business, and with the full support of the board, we are sure to meet and even surpass our expectations for this great company.”