PZ Cussons Nigeria CEO Dimitrios Kostianis steps down after three years

Dimitrios Kostianis has stepped down from his role as the Chief Executive Officer of PZ Cussons Nigeria Plc after three years.

The company announced his resignation in a notification to shareholders, the investing public, and the Nigerian Exchange Limited, signed by its Company Secretary, ALSEC Nominees Limited.

Kostianis is stepping down from the role to take up a new position within the PZ Cussons Group, while Oghale Joseph Elueni has been appointed as his replacement.

What they are saying

According to the notification, Kostianis’ resignation took effect on May 31, 2026. The company said he will also resign from the Board of PZ Cussons Nigeria Plc.

• “The Company hereby notifies NGX and the investing public that Mr. Dimitrios Kostianis will step down from his role as Chief Executive Officer and resign from the Board of PZ Cussons Nigeria Plc with effect from 31st May 2026 in order to take on a new role within the PZ Cussons Group,” the notification stated.
• “The Board expresses its sincere appreciation to Mr. Kostianis for his service and contributions to the Company and wishes him continued success.” 

The company added that Kostianis served with dedication and contributed significantly to the turnaround and growth of the business, including the restoration of profitability and a positive equity position during his tenure.

More insights 

PZ Cussons Nigeria also announced the appointment of Oghale Joseph Elueni as its new Managing Director and Chief Executive Officer, effective June 1, 2026.

• “The Board has approved the appointment of Mr. Oghale Joseph Elueni to the Board of Directors as Managing Director/Chief Executive Officer of the Company with effect from 1st June 2026.”  
• “The Board is confident that his leadership capabilities, commercial experience, and deep understanding of the business will support the continued growth and strategic direction of the Company.”

Elueni currently serves as Managing Director of the company’s Consumer business and has been with PZ Cussons Nigeria since 2021. Before joining the company, he held senior leadership roles at SC Johnson and Procter & Gamble across Africa and the United States.

He brings more than 20 years of experience in the consumer goods sector, with extensive leadership experience across Nigeria and other emerging markets.

The Board also approved the appointment of Ebenezer Oludare Elusakin to the Board of Directors as Executive Director and Chief Financial Officer of the company, effective June 1, 2026.

Elusakin has served as Chief Financial Officer of PZ Cussons Nigeria since November 2024 and has played an important role in supporting the company’s financial management and strategic objectives. Before joining PZ Cussons Nigeria, he held several finance leadership roles in multinational organisations, including Unilever, Diageo, and Royal Philips.

What you should know 

PZ Cussons Nigeria recently returned to profitability, according to its financial results for the half year ended November 30, 2025.

• The company posted a pre-tax profit of N37.9 billion for the period.
• This marked a sharp turnaround from the N5.5 billion pre-tax loss recorded in the corresponding period of 2024.
• Second-quarter earnings of N16.3 billion played a key role in the recovery.

The rebound was supported by stronger revenue, foreign exchange gains, higher other income, and lower interest costs.

The results showed a significant improvement in the company’s financial position, coming before the leadership transition announced by the Board.