Board: Why we took a difficult decision on change of leadership at HealthPlus

The board of directors of HeathPlus has reacted to the termination of the appointment of Bukky George, its former CEO, asking Chidi Okoro to provide interim leadership for the company as its new chief transformation officer.

In a statement signed by Afsane Jetha and Zachary Fon, its directors, the board said the “difficult decision” was made in full compliance with Nigerian laws.

The statement said the process followed a long and drawn-out process of engagement, through which the board sought to address multiple issues with the way the company was being managed.

“The majority of the Board of HealthPlus Limited (“HealthPlus” or “the Company”) on Friday, September 25, 2020, issued an instruction terminating, for cause, the appointment of former CEO Mrs. Bukky George and asking Mr. Chidi Okoro to provide interim leadership for the Company as its new Chief Transformation Officer (“CTO”),” the statement read.

“This difficult decision was made in full compliance with Nigerian laws and following a long and drawn-out process of engagement, through which the Board sought to address multiple issues with the way the Company was being managed. Despite a series of significant breaches of the terms of Mrs.

“George’s engagement as CEO, the Board explored a range of options that would enable her to continue to play an alternate leadership role. It unfortunately became clear that an amicable resolution was not going to be possible and that, as the multiple issues persisted, urgent action was required to avoid adverse impact on the entire business, including customers, employees, suppliers, and other key stakeholders.

“As a result, the majority of the Board of Directors of the Company determined that a change of leadership was required if HealthPlus was to achieve its strategic goals and the former CEO’s appointment was terminated in accordance with its terms.

“The decision of Alta Semper Capital (“ASC”) to acquire majority control of HealthPlus in 2018 and its belief in the Company’s potential to become a market leader, not just in Nigeria, but across the continent, is a testament to the strength of the HealthPlus brand. That is why ASC originally invested into the business and that is why they committed to continue to invest, subject to the satisfaction of key performance targets.

“The majority of the board, therefore, urge the media and the general public to disregard further communications from any individual or group that are contrary to the aforementioned.”