 |
| Image:X |
Renowned business leader and entrepreneur, Ibukun Awosika, has officially stepped down from the board of Cadbury Nigeria Plc, bringing an end to a remarkable 17-year period of service with the confectionery company.
The development was confirmed in a corporate disclosure sent to the Nigerian Exchange Limited (NGX) and shareholders on Wednesday, April 29, 2026. According to the notice, her resignation will take effect from May 1, 2026.
In its statement, Cadbury Nigeria acknowledged the departure and confirmed that Awosika’s exit had been accepted by the board.
“The Board has considered and accepted the resignation of Mrs. Ibukun Awosika as Director of Cadbury Nigeria Plc with effect from Friday, 1st May 2026,” the company stated.
The company further noted that a replacement would be announced in due course, although no timeline was provided for the appointment of a new board member.
Awosika joined the Cadbury Nigeria board in October 2009 and has since been part of several key decisions that shaped the company’s direction through different phases of its business operations and market challenges.
During her long tenure, she contributed to governance oversight and strategic advisory roles within the organisation.
Cadbury Nigeria expressed appreciation for her contributions, describing her service as valuable and impactful.
“The Board expresses its deep appreciation to Mrs. Awosika for her valued contribution since her appointment in October 2009,” the statement added.
Beyond her role at Cadbury Nigeria, Ibukun Awosika is widely recognised as the founder of The Chair Centre Group, a business she established and grew into a respected brand in Nigeria’s private sector space.
She has also been actively involved in mentoring, entrepreneurship development, and advisory engagements across various industries.
Her resignation comes at a time when Cadbury Nigeria has been experiencing notable financial improvements.
The company recently recorded a strong performance in its 2025 financial year, reversing previous losses and returning to profitability.
For the year ended 2025, Cadbury Nigeria reported a profit before tax of N17.27 billion, a significant turnaround from a loss of N28.33 billion recorded in 2024. Gross profit also rose sharply to N36.60 billion, compared to N18.23 billion in the previous year. Net profit stood at N12.09 billion, marking a positive recovery for the company.
Revenue growth also reflected improved performance, with turnover increasing to N169.84 billion from N129.17 billion. Earnings per share climbed to 530 kobo, compared to a negative 975 kobo recorded in the previous year.
Market data also showed positive sentiment, with Cadbury Nigeria’s stock rising by 22.70 percent year-to-date, trading at N73.50 as of April 28.
While the company has not yet named Awosika’s successor, it confirmed that the board will make an official announcement at a later date. Her departure marks the end of a significant chapter in Cadbury Nigeria’s corporate governance history, as stakeholders await the next phase of leadership transition.
#ViralContent
#ExclusiveUpdate
No comments:
Post a Comment