Helios Investment portfolio company, Beta Glass Plc has announced the appointment of Mr. Timothy Ononiwu as its new Chief Financial Officer, effective 1 July 2026. This move comes shortly after Ononiwu’s retirement as Group Chief Executive Officer of Axxela Limited, another company previously backed by Helios Investment Partners.
This appointment is noteworthy in the context of Helios Investment Partners’ recent portfolio moves. In late 2025, Helios completed the divestment of its interest in Axxela Limited, a leading Nigerian gas and power infrastructure company. Shortly thereafter, in February 2026, Helios Fund V acquired controlling interests in Beta Glass Plc and Frigoglass Industries Nigeria Limited from Frigoglass Group in a transaction valued at approximately €100 million.
This appointment highlights a seamless leadership transition linked to Helios Investment Partners. Ononiwu retired from Axxela in May 2026 after playing a pivotal role in strengthening the company’s financial position, operational efficiency, and strategic partnerships. Axxela subsequently appointed Moshood Olajide as the new Group CEO and elevated Yetunde Demuren to Chief Financial Office
Mr. Ononiwu replaces follows the the resignation of Mrs. Hélène Paradisi. Mrs. Paradisi will remain with the business until December 2026 to provide transitional support and assist with specific projects.”
Mr. Ononiwu brings over three decades of senior finance and business leadership experience, primarily in the energy and infrastructure sectors. He holds a Bachelor’s Degree in Accounting from New Jersey City University and an MBA in Finance and International Business from Columbia Business School. He previously held senior roles at BBVA Securities and Geometric Power Limited before spending nearly a decade at Axxela Limited, where he served as Chief Financial Officer for seven years before rising to Group Chief Executive Officer.
Commenting on the appointment at Beta Glass, Chief Executive Officer Alexander Gendis said: “We are delighted to welcome Timothy to Beta Glass. His proven track record in financial leadership, capital management, funding strategy and business transformation will be instrumental as we continue to strengthen our financial position, support future growth investments and deliver sustainable value to our shareholders.”
Beta Glass, which came under Helios Investment Partners’ control earlier this year following the acquisition from Frigoglass Group, emphasized that the appointment ensures continuity and strengthens its financial leadership as the company pursues expansion and operational excellence in West Africa’s glass packaging sector.
Sources close to the company say that Mr. Ononiwu is being positioned to eventually succeed current Chief Executive Officer Alexander Gendis as part of Helios’ longer-term leadership and post acquisition succession plan for the business.
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