Christopher Ezeh: Corporate Performer
Christopher Ezeh, 54, is the deputy chairman of John Holt Plc. Ever since he assumed the position last year, he has also been combining it with the non-executive functions of vice-chairman of the board. Ezeh had been managing director/CEO of John Holt for 11 years between 1986 and 1997 during which time he had refocused the conglomerate from a purely trading concern to a diversified company with interests spanning boat manufacturing, board packaging, production of cosmetics and toiletries. John Holt Plc also assembles motorcycles and distributes boat engines, generators, motor vehicles and pharmaceuticals. The company was also into general merchandise.
Since 1996, in line with changing trends in the economy, Ezeh restructured John Holt along three core areas namely technical operations; motor sale/leasing and trade services. The aim was to merge and consolidate similar operations while closing down unprofitable ventures in order to enhance efficiency and reduce costs. For example, West African Drugs was closed down while Haco and John Holt Ventures were restructured.
Part of the positive results from this exercise was reaped in the financial results ended September 30, 1997 which showed that total assets rose from N5.42 billion to N5.76 billion while cost of sales dropped from N5.17 billion to N5.05 billion. Similarly, distribution costs fell from N765 million to N647 million while profit before tax rose from N225 million to N347 million.
Ezeh is also a director of many other companies including NAL Merchant Bank, Thomas Wyatt Nigeria, and Nigeria Ropes Limited. He is also president, Nigeria-Japan chamber of commerce and chairman, Business Council, Enugu State University of Technology, Enugu, which runs a business school in Lagos. Ezeh expects that John Holt would gain more benefits from its reorganisation exercise and the 1998 budget incentives. He also looks forward to greater business opportunities thrown up for companies when the government privatisation programme takes effect this year.
Newswatch June 29, 1998
" Newswatch 1998