Obafoluke Otudeko may be the chairman, call the shots and takes all the important decision at Honeywell Group, a holding company investing in critical sectors of the Nigerian economy, but the day-to-day running of the business which recently sold majority of its shares to Flour Mills of Nigeria Plc a Nigerian agro-allied group, is carried out by a select group of technocrats, two of who are his children.
That he prepared them well for the onerous task of running the company and most likely, taking over from him, is not in doubt. Some say don’t mix business with family, but the Otudekos, like most typical well-heeled families, have clearly shown that the foundation of a successful venture is one that is supported by a family tree and that their bond goes beyond sharing a surname. There is Obafemi, who is the Managing Director of the group and the one responsible for providing strategic direction and oversight to the Group’s portfolio companies and investments. He has been with the company for close to 20 years and started out as Senior Manager, Projects (Oil and Gas).
Over the years, Obafemi has led several key initiatives, including chairing the IPO committee responsible for the successful capital market listing and capital raising for the Group’s flour milling investment, coordinating the Group’s efforts in the completion, capital raising, and opening of the five-star Radisson Blu Hotel in Lagos.
He is also a non-executive director of First Bank of Nigeria Ltd, Honeywell Flour Mills Plc, and Anchorage Leisures Ltd and previously served as a non-executive director of Airtel Nigeria where his father has extensive interests.
A graduate of Accountancy Studies from the University of Huddersfield, UK, Obafemi is a qualified chartered accountant and a Fellow of the Institute of Chartered Accountants of Nigeria (FCA). An alumnus of the London Business School, INSEAD Business School, he is also a member of the UK Energy Institute. Then there is Tomi, who is the Head, of Corporate Services where she oversees various functions for Honeywell Group Limited, including strategy and project execution, human resources, information technology, communications, administration, and facilities management.
She has been with the company for only five years but helped set up Itanna, Honeywell Group’s corporate venture investing platform. Prior to joining Honeywell Group, she was at First Bank where her father had extensive interest. She was Head, International Banking Coordination for its International Business. Before joining First Bank, she was an Investment Manager at Stanbic IBTC Asset Management and also worked at IBM UK as a Business Development Specialist. A graduate of Law from King’s College London with an MSc in Economics she holds a Certificate in Entrepreneurship & Innovation from Stanford University and Harvard Business School.
Ivory Ukonu is a versatile journalist with many years of experience, with entertainment and society reporting as her area of core competence.
