Chairman of the Nigerian Aviation Handling Company PLC (nahco aviance), Suleiman Yahyah has resigned.
In his resignation letter to the management of the company, Yahyah cited the urgent need to attend to his failing health.
According to statement issues by the company on Saturday, with the resignation of Yahyah, the Vice Chairman, Mr. Denis Hasdenteufel, would take over the leadership of the Board in an acting capacity and would preside over all meetings of the Board pending the approval of regulators and further announcements from stakeholders.
“Yahyah who was appointed a director of the Company in November 2006 became the Chairman in July 2012. Yahyah had in recent months come under mounting pressures from his family to step down to enable him undergo a proper medicare.
“Credited with the strategic reorganization of the Company to its current modern status, Yahyah had been battling with an undisclosed health issue for a couple of years now,” the statement said.
NAHCO noted that during his tenure, the company “witnessed unprecedented turnover which grew from N6.92 billion when he took over leadership of the board to N8.5 billion at year end 2015” and this was in addition to increase in number of employees from about 1,100 to an all – time high of 1,980.
During this period also the asset base of the company grew from N9 billion to N15 billion.
“The hallmark of Yahyah’s tenure at NAHCO was the modernisation of company’s equipment to align with world’s standards in modern ground handling service. He was credited with equipping NAHCO with state-of-the-art equipment that made the company the great force that it is today in ground handling service in sub-Sahara Africa,” the company said.
It noted that the diversification of the company, which the board under his tenure embarked upon led to the establishment of NAHCO FTZ with the granting of a licence for same by the federal government, in addition to the mainland cargo options, which also joined the growing list of companies in the group.
“Yahyah also promoted a harmonious Company – labour relations which ensure minimal disruption in company’s business operations. His welfare – oriented policies include the introduction of performance-based pay (PMP) to employees and profit – sharing for workers.
“He introduced a management succession programme into the company that ensured a smooth transition from one CEO to another,” the company added.
Under Yahyah leadership, NAHCO was said to have become the most successful privatisation story in the history of privatisation programme in Nigeria.
The company said his letter of resignation had been communicated to the regulators.
