PZ SPF Legacy Fund Transfer Ceremony

The Legacy Fund Management migration project which has been on for over a year reached it’s conclusion on Thursday, 14th of April, 2011 with the transfer of the management of the fund to one of the PFAs; STANBIC IBTC Pensions. A major challenge had been the need to align our workforce expectations with that of the regulatory body, PENCOM. All stakeholders are satisfied with the outcome as the process was transparent and done with strict regard to due process.

The transfer was signed by the members of the Project Board of Trustees, representing PZ Cussons entire workforce and two other signatories from STANBIC IBTC. The members of the Project Board of Trustees include The CEO – Christos Giannopoulos, MD Distribution Services - Mr Adewale Raji, Corporate Affairs & Admin Director - Mrs Yomi Ifaturoti and Mr A.M. Adebowale representing the Union. Mr Rotimi Alade as Company lawyer signed as the witness.

Our junior employees and senior employees were duly represented with their respective associations at the ceremony. In his opening remark, the CEO emphasized the need for STANBIC IBTC Pensions to consistently send regular updates and annual statements of account to the staff indicating the extent of growth of the fund.

The Group Union Chairman, Comrade Salisu appreciated members of the Board of Trustees and thanked his colleagues for their support , maturity and cooperation.

Our thanks also goes to Mr Francis Aremo who managed this account on our behalf for so many years.