Presco Announces New MD/CEO, Board Members To Drive Strategic Growth

Leading agro-industrial company, Presco Plc. (NGX: PRESCO), has announced the appointment of Reji George as its new managing director and chief executive officer, effective June 7, 2024.

As Presco’s new MD/CEO, Reji George is well-positioned to manage the company’s business assets and well-oiled operations across Edo, Delta and Cross River States. George has over 30 years of experience in plantation and farm management across continents. His expertise in managing large-scale rubber and tea plantations in India, as well as fully integrated commercial farms and value chain farming initiatives across East and West Africa, highlight his wealth of strategic knowledge and industry experience, that is poised to propel the company’s operations, expansion and development plans.

Prior to joining the Company, George served as the Vice President – Farming at Olam International, where he dedicated 18 years to leading the development of large-scale facilities, spearheading government-partnered initiatives, and integrating environmentally-sound programs for stakeholders. During his tenure, he spearheaded the establishment of Olam’s fully integrated and mechanized commercial rice farming project in Nasarawa State, which is now the largest commercial rice farm in Africa. Reji was also a key member of Olam’s global leadership team, focusing on regenerative agriculture and sustainability initiatives.

“I am pleased to be joining Presco as MD/CEO at such an exciting time in the company’s journey. Working with my colleagues, the aim is to optimize market opportunities and streamline our operations,” said Reji George, Presco Plc’s newly appointed MD/CEO. “Presco Plc. is in a prime position to expand its market capabilities across the continent and I look forward to collaborating with our stakeholders to drive the company’s continuous transformation and growth.”

In addition to his stellar resume, George’s professional journey is punctuated with several achievements. In 2019, he was selected as one of the five global finalists at the P3 Concordia Award in New York. Before that, he received the African Business Award for CSR in 2011, London, instituted by Commonwealth Business Council; as well as the award for Strategic Excellence in sustainable farming projects from Olam International’s Annual Meet in 2008.

George holds a master’s in business administration (marketing and finance) from T.K.M College of Engineering and Management, Kerala University, India; and a B.Sc. (Chemistry), Mar Ivanios College Trivandrum, under Kerala University, India.

This leadership announcement follows the elevation of Mr. Felix Nwabuko to the position of Group Chief Executive Officer of SIAT NV Group, as well as the retirement of Chief James Erhuero JP, mni, OON, from Presco’s board.

At Presco Plc’s 31st annual general meeting (AGM) held recently in Lagos, other appointed directors, Olakanmi Rasheed Sarumi, Abdul Akhor Bello, and Grace Titilayo Osuntoki, were elected by the company’s shareholders as Chairman, non-executive and independent non-executive directors, respectively. All three appointed directors bring a wealth of strategic knowledge and industry experience to elevate the company’s business approach and deepen its impact across Nigeria’s oil palm industry.

“We are excited to welcome Reji George to Presco and confident that his extensive expertise, strategic mindset, and dedication to sustainability will propel Presco PLC to new heights of success,” said Mr. Olakanmi Rasheed Sarumi, Presco’s newly appointed Chairman. “We would like to offer our sincere thanks to Mr. Felix Nwabuko whose leadership credentials will be of great value as he takes on his new position at SIAT NV Group. As a collective, we are focused on leveraging the endless opportunities the oil palm and agro-allied industries provide to optimize value for our stakeholders and sustain industry impact, both socially and economically.”

The new appointment allows Presco to continuously leverage the diverse knowledge-set of its leadership to expand its competitive advantage in the palm plantation industry and pursue new opportunities for sustainable growth and innovation.