Billionaire investor and Chairman of First HoldCo Plc, Femi Otedola, has categorically stated that the ongoing overhaul at the financial services group will come with a lot of “pleasant and unpleasant surprises” as the company sets sail on a new corporate journey.
In a post on his X account on Tuesday, while addressing shareholders, Otedola noted that the challenges ahead are enormous. He emphasised that the process of rebuilding First HoldCo will require a significant level of sacrifice.
“Rebuilding and restructuring a behemoth like First Holdco Plc will come with a lot of disruptions, including both pleasant and unpleasant surprises. We must pull things apart, remove old, faulty foundations and build a new experience for all our stakeholders. This is our current reality at FirstHoldco Plc, but surely a new beginning here for all of us!!”
News.ng reports that Otedola’s bold declaration marks the birth of a new phase for the group, which has, over the years, confronted issues of regulatory trust and inconsistencies in market performance.
It is believed that Otedola, the son of the late former Lagos State Governor, Michael Otedola, has sent a positive signal to investors and market observers that the company’s board is on course to revolutionise its operations with strict adherence to regulatory guidelines, positioning it to stand the test of time.
The ongoing rebuilding of the group, according to Otedola, is not merely a corporate shift but a deliberate journey hinged on sustainability.
“A new beginning that guarantees corporate sustainability and longevity fuelled by the tenacity of purpose and veracity of vision supported by our core pillars of Transparency, Accountability, and Long-Term Value for all stakeholders,” he stated.
He stressed, “I remain grounded in our pursuit to build a world-class financial institution without distractions, whilst my commitment to continue to invest my all, financial and otherwise, remains unflinching,” he added.
