Isabel dos Santos Makes Her Way Back To Unitel After Ouster

Over the past few months, Unitel has faced a significant amount of civil lawsuits from several investors. This has chiefly been because investors felt that dividends on the company’s profits weren’t being paid out appropriately; a recent court ruling also found this to be true and ruled in favor of investors. Because of this, investor confidence in upper management has naturally been low. With that in mind, there have been a number of significant changes in the company within the past few months. Chief among these has been Isabel dos Santos being placed on the company’s board, two years after being replaced as President by Joao Lourenco in 2017.

However, the African billionaire’s family still had a 25% stake in the company, so she still had some input into the business, albeit minimally. Having said that, Joao Lourenco tried to reduce this controlling interest as much as possible, although this wasn’t too significant. Isabel dos Santos being named a member of the board isn’t the only recent shakeup at Unitel’s upper management; three other members were brought onto the board at the same time as dos Santos. On top of this, Miguel Geraldes has been confirmed as the replacement of Antony Dolton as general director of the company. Having said that, Isabel dos Santos and the other board members won’t be taking their positions until May 6.

This is because there has been somewhat of a transition period between Isabel dos Santos and the other board members and those that they’re replacing. However, when they do take their positions, they’re set to vote on a new chairperson; so far, there has been no indication as to who this may be. Dos Santos has been well known in the business world in Africa for the past few decades. As the daughter of former Angolan President Jose Eduardo dos Santos, she was able to grow her fortune over his forty-year presidency. Through this time, Isabel dos Santos has created a diverse portfolio of businesses across a wide range of industries. Chief among these have been media, retail, finance, and energy; furthermore, these companies have spanned both Africa and Portugal.

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