Corporate Notice
Umeme Limited (“the Company”) informs its shareholders and the general public of the following changes in its Board of Directors and Management:
Mr. Selestino Babungi was appointed as an Executive Director of the Company with effect from the 13th day of March, 2015 and as the new Managing Director of the Company with effect from the 1st day of April, 2015.
Selestino has previously served as Umeme’s Chief Financial Officer (CFO), where he has been responsible for driving the Company’s business and financial strategy, leading to the overall growth in Umeme’s financial performance over the years. Prior to his appointment as CFO, Selestino served in Operations as a Regional Manager and Credit Control Manager, gaining a deep understanding of the electricity distribution business and sector as a whole. Selestino has also worked with Ernst & Young Uganda, providing audit and advisory services to clients in the private and public sector.
He is a graduate of Statistics, a Fellow of the Association of Certified Chartered Accountants (UK) (FCCA) and a Certified Public Accountant - Uganda (CPA).
Mrs. Florence Nsubuga was appointed a Director (Executive) of the Company with effect from the 13th day of March, 2015
Florence is Umeme’s Chief Operations Officer and a key member of the senior management team. She has a wealth of experience in the operations of the Company.
In accordance with the Articles of Association of the Company, Mr. Babungi and Mrs. Nsubuga shall serve as Executive Directors of the Company and shall not be eligible for rotation. Mr. Charles Chapman will remain on the Board as a non Executive Director.
Umeme Chairman, Mr. Patrick Bitature expressed appreciation to outgoing Managing Director Mr. Charles Chapman saying ‘...Charles took over stewardship during the most tumultuous time in our history. The safety record of the company has significantly improved and, with the support of the Board and staff energy losses have been reduced by 20-percentage points. Charles guided the Company through its successful initial public offering and leaves a well organised and motivated team delivering visible customer service. Charles has done a great job. I am also delighted that Selestino has accepted the role of Managing Director of Umeme. Selestino is extremely well qualified and has a strong understanding of the business and the sector. I am very proud that Umeme is able to attract and retain such individuals of Selestino and Florence’s caliber…’
The above appointments are in line with the Company’s board composition strategy to include Executive, Non-Executive and resident Directors.
Shonubi, Musoke & Co Advocates Company Secretary 13 March 2015