Kobo360, a Nigerian logistic startup has named Cikü Mugambi, the current chief operating officer (COO) as the new chief executive officer (CEO) of the company.
The news follows the announcement that Kobo360’s Co-Founder, Obi Ozor, has stepped aside from his position as CEO and Board Chair at the company with immediate effect to focus on his new position as the Commissioner for Transportation for Enugu State.
The Board of Directors has named his successor Mugambi, the current COO, who will be supported by the company’s CFO of 2 years, Ayo Fashina.
“Powering a complex and challenging supply chain and using technology to scale inter-regional trade, is a long-term, generational mission; this is what Kobo360 set out to achieve when it launched six years ago and I am honoured to be tasked with continuing the company’s journey. Obi has been a powerful advocate for the company, and we thank him for his hard work and visionary mission,” Cikü Mugambi, Kobo360’s CEO says on her appointment.
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After joining Kobo360 in 2021, Mugambi has excelled as a leader. In addition to her appointment, the leadership team appointed Fola Adeola, a seasoned entrepreneur, investor and philanthropist, and co-founder of Guaranty Trust Bank, one of Africa’s largest banks as the new Chairman of the Board of Directors.
On his appointment as Chairman of Kobo360’s Board of Directors, Fola Adeola says, “As an early backer of Kobo360, I am excited to work even more closely with the Board, Cikü, Ayo and the entire team, to continue to build an African technology company that powers our continent’s trade. The company is at an inflexion point and has made significant progress on its journey to profitability. This is a significant platform on which we plan to grow and scale even further.”
The outgoing CEO Obi Ozor said, “My big vision for Kobo360 was always to make an impact on the lives of many through entrepreneurial innovation, business, and economic impact. Alongside my experienced leadership team and Board, I know that we’ve made great strides in achieving this, and the work is set to continue, with Cikü, Ayo, and Fola Adeola now firmly in their new roles. My journey with Kobo360 may be changing, but my commitment to its success remains unwavering.”
