Beta Glass appoints FMN ‘Boye Olusanya as Board Chairman

 BetaGlass Plc has appointed Mr. 'Boye Olusanya as Chairman of its Board of Directors with effect from 30 July 2026. The appointment follows the departure of former Chairman Dr. Vitus Ezinwa.

Olusanya joined the board as a Non-Executive Director in February 2026 as part of a board reconstitution after Helios Investment Partners-backed Emerald HoldCo acquired Frigoglass Group’s controlling interest in the company. 

The leadership change occurs against the backdrop of the ownership transition. Emerald HoldCo’s acquisition of an indirect majority stake (approximately 55.2% of Beta Glass) triggered a mandatory takeover offer under Nigerian securities rules. Emerald HoldCo offered to buy up to 11.74 million ordinary shares (about 1.96% of the issued share capital) at ₦590.94 per share. The offer, valued at roughly ₦6.94 billion and approved by the Securities and Exchange Commission, ran from early July to 4 August 2026.

Olusanya has more than 25 years of executive experience across FMCG, agriculture, telecommunications, technology, energy, infrastructure and financial services. He is currently Group Chief Executive Officer of FMN Holdings Limited. His earlier roles include senior positions at VMobile (formerly ECONET Wireless), Dancom Technologies, Dangote Industries, 9mobile and Helios Investment Partners. He previously served as Chairman of Axxela Limited during Helios’ ownership of the company. Helios acquired a controlling stake in Axxela (then Oando Gas & Power) in 2016, later moved to full ownership, and exited in late 2025/early 2026 by selling its remaining interest to the BlueCore consortium.

The board stated that it has confidence in Olusanya’s leadership and that the company is expected to pursue new opportunities, strengthen governance and deliver growth under his guidance. It also thanked Dr. Ezinwa for his service.

Beta Glass manufactures glass packaging for the beverage, pharmaceutical and food industries. Headquartered in Lagos, it supplies markets across West and Central Africa, including Ghana, Burkina Faso and Côte d’Ivoire