PZ Cussons Nigeria appoints Oghale Elueni as Managing Director and CEO
The appointment marks a historic milestone as Elueni becomes the first Nigerian to lead the company in its modern corporate history.
NIGERIA – PZ Cussons Nigeria Plc has appointed Oghale Joseph Elueni as its new Managing Director and Chief Executive Officer, effective June 1, 2026.
The appointment was formally disclosed to shareholders, the investing public, and the Nigerian Exchange Limited in a notice signed by Company Secretary ALSEC Nominees Limited.
Elueni assumes the role following the resignation of Dimitrios Kostianis, who stepped down after three years as CEO to accept a new position within the PZ Cussons Group.
The Board officially approved his appointment to the Board of Directors as MD/CEO, stating, “The Board has approved the appointment of Mr. Oghale Joseph Elueni to the Board of Directors as Managing Director/Chief Executive Officer of the Company with effect from 1st June 2026.”
Elueni brings more than two decades of experience in the consumer goods sector, forged across three continents and two of the world’s most demanding FMCG multinationals.
Prior to joining PZ Cussons, he held senior leadership positions at SC Johnson as General Manager for Sub-Saharan Africa and Managing Director for West Africa.
Before that, he served in a series of executive roles at Procter & Gamble across Africa and the United States.
Within the PZ Cussons Group, Elueni has already made a significant impact since 2021. In 2023, he was appointed Managing Director of Africa Consumer Business, becoming the first Nigerian national to lead the Group’s African operations as part of its senior leadership team.
He currently serves as an Executive Director and Board member at PZ Cussons, leading the Group’s strategic transformation.
Meanwhile, Elueni is a graduate of the University of Ibadan, and his elevation to MD/CEO represents a major leadership transition at the consumer goods giant, signalling the company’s commitment to leveraging indigenous talent with international expertise to steer its Nigerian operations.
The appointment comes at a pivotal moment in PZ Cussons Nigeria’s corporate trajectory, with the company’s improved earnings position providing a strong foundation for Elueni’s leadership.
The appointment comes at a pivotal moment in PZ Cussons Nigeria’s corporate trajectory, with the company’s improved earnings position providing a strong foundation for Elueni’s leadership.
In fiscal year 2024, PZ Cussons Nigeria posted a net loss of ₦76 billion (USD 55.5 million), primarily due to foreign exchange losses of ₦157.9 billion (USD 115.3 million).
The recovery in FY 2025 proved extraordinary by any standard. Revenue surged 40%, climbing from ₦152.2 billion (USD 111.2 million) to ₦212.6 billion (USD 155.2 million) year-over-year.
The company transformed its operating performance, shifting from a ₦127.4 billion (USD 93.1 million)operating loss to a ₦17.3 billion (USD 12.6 million) operating profit.
Profit after tax reached ₦5.5 billion (USD 4.0 million), marking a complete turnaround from the ₦76 billion (USD 55.5 million) loss recorded the previous year.
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