The Chairman, Board of Directors of Cutix Cables, Ambassador Odi Nwosu, has underscored the importance of quoted companies. Nwosu spoke to The Guardian against the backdrop of the recent demise of the founding Chairman of Cutix Cables, Chief Ajulu Uzodike, who will be buried in Nnewi next weekend.

He said that despite Uzodike’s demise, the future of the company is guaranteed, being a public limited liability outfit.

“There have been changes in the leadership structure of the company, because at a point in time I left to serve as Nigeria’s Ambassador to the Republic of Burundi in 2012, but during all these changes, the company has consistently been doing well.

“Profits have been going up, dividends constantly paid; bonus has been given once every three years.

“In the Cutix Charter, the direction of Cutix is painted. Everybody who reads it can understand it and know where Cutix wants to go. The board and the management are made to commit to the Cutix Charter. And members of the board follow through on that Cutix Charter,” he stated.

Nwosu maintained that as long as members of the board follow through on the Cutix Charter, the company will continue to lead, whether the founder and I, the co-founder, are there or not.

The former ambassador disclosed that Nigerian products now compete with foreign ones, stressing that experts have continued to rate locally manufactured cables above imported ones due to strict compliance with international best practices.

He stated: “Our greatest strength lies in our people. We made sure we started Cutix with completely local talents.” He pointed out that the company of directors is made up of people from varied backgrounds, including people who have worked at top management level in Cutix for many years.

“When they retire, we bring them as non-executive directors to help guide Cutix along the path that we want it to go,” he added. It could be recalled that as one of the few publicly quoted companies in Southeast, the founder, Uzodike, who retired as Managing Director in 2008, remained the board chairman till 2011, before he died on June 7, 2024.