Flour Mills of Nigeria rejigs board, appoints new CEO, Independent Director
Flour Mills of Nigeria Plc has rejigged its management and board with new appointments and changes as the food company appointed a new chief executive officer, vice chairman of the board, and an independent director.
In a regulatory filing with the Nigerian Stock Exchange (NSE) on Friday, the company said it has appointed its erstwhile Group Chief Operating Officer Boye Olusanya as the new chief executive officer, to replace Paul Gbededo who is retiring from the company after 38 years of service on December 31.
The new chief executive officer, Olusanya is expected to take over from Gbededo from January 1, 2021, while Gbededo has been elevated to the position of Vice Chairman of the board of directors of the company, according to the regulatory filing.
Also appointed to the board is the current chairman of Polaris Bank and pioneer Director-General of the National Pension Commission (PENCOM), Mohammed Ahmad as an independent director.
Ahmad, a boardroom guru was once a director at the Nigerian Deposit Insurance Corporation (NDIC), he chairs the technical committee of the National Council of Privatisation (NCP) and also chaired the technical committee of the Nigerian Code of Corporate Governance.
He was recently appointed as an independent director of the local unit of South Africa’s telecoms giant, MTN Nigeria.