Wednesday, 23 November 2011

Union Bank GMD Makes Financial Time's World's 50 Businesswoman

Group Managing Director of Union Bank of Nigeria (UBN) Plc, Mrs. Funke Osibodu, has been named by a global jury of experts constituted by Financial Times of London as one of the world’s 50 leading businesswomen.

Osibodu was chosen in recognition of her impeccable turnaround at Union Bank, where the jury noted she was” responsible for strengthening the management of the bank, improving discipline and ensuring transparency.”

The Union Bank boss is the only African woman and Nigerian that made the top 50 businesswomen list, which included Irene Rosenfeld of Kraft Foods, Güler Sabanci of Sabanci Holding, Indra Nooyi of PepsiCo, Ursula Burns of Xerox, Andrea Jung of Avon Products, Ellen Kullman of DuPont, Dong Mingzhu of Gree Electric Appliances, Angela Ahrendts of Burberry, Yoshiko Shinohara of Temp Holdings and Chanda Kochhar of ICICI Bank.

The top 50 was assessed on a range of factors including biographical data; size, scope and complexity of the company including turnover and number of employees, number of sectors and countries of operation; and competitive landscape.

The judges’ decisions were based essentially on performance and durability and only ranked executives managing a group’s controlling company and those that have served at least 12 months in the main executive role were eligible. The panel also took into account each company’s performance over the three years to June 30, 2011, using total shareholder return figures in US dollar terms, where applicable.

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