Home Business Why IBEDC’s Pioneer MD, Fortunato Leynes Resigned •Bolanle Onagoruwa takes charge

Why IBEDC’s Pioneer MD, Fortunato Leynes Resigned •Bolanle Onagoruwa takes charge


By Olaolu Bilau

Facts have emerged on the reason behind the sudden exit of the immediate past managing director and chief executive officer of Ibadan Electricity Distribution Company (IBEDC), Mr. Fortunato Leynes resigned from the organization recently.

Leynes, the pioneer Managing Director of the Ibadan- based power distribution company, who had joined the company in November, 2013 was said to have stepped down in order to be with his family back in The Philippines.

A source, who confided in WESTERN POST, informed that the Philippino was missing his family badly and had to return to be with them, exactly a year and three months into his tenure as head of the largest distribution company in Nigeria.

Mr. Leynes was seconded to IBEDC from the Manila Electric Company (MERALCO) in the Philippines after its Nigerian partner, Integrated Energy Distribution and Marketing Limited (IEDM) acquired the defunct Power Holding Company of Nigeria (PHCN) under the privatization programme of the Federal Government which sought to reform the power sector.

A statement by the company’s Head of Brand and Communication, Mrs. Angela Olanrewaju said: “Engineer Fortunato Leynes resigned on 9th February 2015 and his contribution to the growth of the organization is very much appreciated by the Board of Directors, Management and staff of IBEDC”.

In his place the company has appointed Ms. Bolanle Onagoruwa as Acting Managing Director, Chief Executive Officer.  Onagoruwa was the Company Secretary before her current appointment and would be in charge, pending appointment of a succeeding MD/CEO.


Like and Share this:


Please enter your comment!
Please enter your name here