Transcorp Changes Leadership in Bid to Reposition its Operation

Budding investment giant, Transcorp, is pushing to shrug off recent teething challenges and forge ahead with its corporate vision. One way it is underpinning its repositioning is via a leadership change. The company recently announced the hiring of Mr Tom Iseghohi as its new Group Managing Director and CEO, replacing Mr. Bernard Longe.

Mr Iseghohi, said to be a leading expert in economic and financial structures and deal creation and analysis, is also said to bring extensive experience in business transformation. The company presents him as a change-leader who has spearheaded business transformations globally, with notable cases in American Express, Ford Motor Company and Pepsi-Cola Company.

Transcorp has been under the weight of a combination of operational difficulties, compounded by the unsuccessful outcome of it's funding drive through an IPO. It's technical partners in Nitel, British Telecom, were recently reported to have exited the relationship. Nitel is also believed be having debt difficulties with US service providers that may threaten its SAT-3 IP services. It's telecom operations, including the GSM services of subsidiary M-Tel, remain at best uninspiring and in urgent need of rehabilitation. Consequently, Its capacity to generate revenue is clearly severely constrained. With this myriad of challenges, the new leadership definitely has its hand full. That may yet be the acid test for the new Group Managing Director, reputed to be a proven turnaround expert.