GlaxoSmithKline Consumer Nigeria Plc has expanded the size of its Board of Directors with the appointment of a former director at Lafarge Africa Plc, Oludewa Adodo-Thorpe. She was appointed as a non-executive director, a role that involves policymaking and planning exercises.
The appointment was disclosed through a statement published on the website of the Nigerian Stock Exchange (NSE). The Company was quoted on the NSE in 1977 but was incorporated in Nigeria on June 23, 1971 and commenced business on July 1, 1972. It last traded at N6.30 kobo per share on October 31, 2019.
Speaking on her appointment, the company said, “The Board is very confident that with her background, relevant experience and significant involvement in the capital market community, Mr. Adodo-Thorpe would add significant value to the quality and diversity of the Board of GlaxoSmithKline Consumer Nigeria Plc.”
Thorpe, who also acted as a non-executive director at Lafarge Africa Plc, will resume duties at GlaxoSmithKline on December 5, 2019.
About Oludewa Adodo-Thorpe: She is a lawyer with vast experience across board, according to the statement released by GlaxoSmithKline. Details of her career growth are noted below.
- Adodo-Thorpe is a corporate and investment lawyer, who graduated with Bachelor’s degree in law with honours from the University of Nigeria, Enugu Campus and a Master’s Degree in Law, from the University of Lagos. She was called to the Nigerian Bar in 1979.
- She joined the Nigerian Industrial Development Bank Ltd, (NIDB) now Bank of Industry Limited (BOI) after her national service and rose to increasing levels of responsibility until she was appointed the Company Secretary of NIDB Trustees Ltd (BOI Trustees Ltd) before disengaging from the bank.
- She commenced active Legal Practice specializing in Secured Credit Transactions, Corporate & Commercial Law and International Business Transactions. Apart from running a Firm of Legal Practitioners, she doubles as the Chief Executive Officer of a Firm of Company Secretaries which handles the corporate meetings and compliance duties of many Companies.
- Adodo-Thorpe is currently the National Secretary of the National Coordinating Committee of the Shareholders’ Associations; the body that coordinates the activities of the seven zones of the Zonal Shareholders’ Associations. She is also a member of the Nigerian Bar Association (NBA), Capital Market Solicitors Association and the International Bar Association (IBA). She has attended many conferences of both the IBA & NBA. She has served the Nigerian Capital Market community in various capacities.
- She is currently serving the Nigerian Capital Market community as a member of the Multiple Subscriptions Committee of the Securities and Exchange Commission. She was a Commissioner in the Delta State House of Assembly Service Commission.
- She was a member of the Statutory Audit Committee of Union Home Savings and Loans Plc, a company which used to be a subsidiary of Union Bank Plc. She is a member of the Society for Corporate Governance Nigeria and a Fellow of the Institute of Directors (IoD) Nigeria, where she was a member of many Committees.
- She was, until recently, a Non-Executive Director in Lafarge Africa Plc, where she served for nine years (September 2008 to June 2017). She was a member of Risk Management & Ethics Committee, and the Property Optimization Committee. She is an active member of the Soroptimist International, a Non-Government Organization for Professional women recognized by the United Nation, where she has served in many capacities.
- She is currently the Vice President, West and Central Africa Region, Soroptimist International Future Africa Federation. She is currently a Director on the Boards of Coastline Micro–Finance Bank Limited, where she is a member of the Credit and Risk Committees.
Buhari appoints 2 new deputy commissioners for NAICOM
This was disclosed in a statement by NAICOM’s Commissioner for Insurance Directorate.
President Muhammadu Buhari on Monday appointed Alhaji Sabiu Abubakar and Mr. Oba Oluniyi as two new Deputy Commissioners of the National Insurance Commission (NAICOM). This was disclosed in a statement by NAICOM’s Commissioner for Insurance Directorate, Mr. Rasaaq Salami.
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Salami disclosed that Abubakar would be Deputy Commissioner for the Technical, while Oluniyi would assist with the running of the Finance and Administration (F&A) also Department.
NAICOM said that the appointments of the 2 new Deputy Commissioners would be effective from the 17th of July, and they will both serve as Deputy Commissioners for five years.
More details shortly…
Dangote Cement Plc. appoints Ms. Berlina Moroole as non-Executive Director
Ms. Moroole was previously CRO and Chief Audit Executive for Liberty Holding Group.
Dangote Cement Plc has announced the appointment of Ms. Berlina Moroole to its Board as a Non-Executive Director, subject to approval at the next Annual General Meeting.
In a statement issued by the company and sent to the Nigerian Stock Exchange, stated that “Ms. Moroole is the Chief Internal Audit, Risk and Sustainability Officer for Motus Holding, in the Board of Assupol (Audit Committee – Chair, Risk Committee and Social & Ethnic Committee – Chair) and M-sure.”
Ms. Moroole was previously CRO and Chief Audit Executive for Liberty Holding Group, Board member of a schedule 3 public entity in South Africa (Legal Aids South Africa) and an Audit Advisory Committee member for one of the United Nation agencies (UNFPA). “She is also a former Group CRO and CAE of a listed entity, Partner at Deloitte, Senior Manager for SARS internal audit department and internal auditor at CSIR Corporate Audit Services,” the disclosure revealed.
Recall that just late last year in November, Asue Ighodalo, Thabo Mabe, Halima Aliko Dangote, Olakunle Alake, Arnold Ekpe, and Yabawa Lawan Wabi (MNI) all stepped down from the board causing a massive shakeup. Four new directors had, however, been swiftly appointed.
The company recently released H1 2020 unaudited result for the period revealing a profit of N126.14 billion, against N119.24 billion recorded H1 of 2019. Its revenue had revealed a marginal 2% increase as it earned N476.85 billion for the period ended June 2020 while in 2019, its revenue stood at N467.73billion.
The company’s most recent share price as at today is N134.20. Its price-to-earnings ratio stood at 10.97 while its price-to-book ratio stood at 3.1347.
Cadbury Nigeria Plc appoints Adedotun Sulaiman as new board chairman
Mr. Sulaiman, has almost 40-years experience in strategic plan development.
Cadbury Nigeria Plc on Thursday announced the appointment of Mr. Adedotun Sulaiman (MFR), as the new Chairman of its Board of Directors, effective immediately.
Sulaimon replaces Mr Atedo Peterside who stepped down as Board chairman on 30th June 2020.
This announcement was contained in a statement issued by Mr. Frederick Mordi, the Company’s Corporate Communications and Government Affairs Manager for West Africa.
Mr. Sulaiman, has almost 40-years experience in strategic plan development, organisation design, human resource management, technology planning and process re-engineering.
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The renowned management and strategy consultant was first appointed into the Board of Cadbury Nigeria Plc as a Non-Executive Director in August 2009.
He had served as a Country Managing Director and Chairman of Accenture Nigeria, and he currently sits on and/or chairs the board of several companies and not-for-profit organisations such as ABSA Nigeria Plc, Interswitch Limited, Cornerstone Insurance Plc, The Corona Schools Trust, and Greensprings Schools.
He is also Vice-Chairman of the University of Lagos Advancement Board, and Chairman of the Financial Reporting Council of Nigeria (FRCN).
Speaking on his appointment, Managing Director, Cadbury Nigeria Mrs. Oyeyimika Adeboye said, “Mr. Sulaiman’s professional track record of excellence in the private sector and strong commitment to corporate governance principles, make him a natural fit for the role.
“He brings on board, his integrity, wealth of experience, and exemplary leadership style that have made him one of the most respected business leaders in Nigeria today. We are delighted to have Mr. Sulaiman as our new Chairman.”
As Nairametrics previously reported, Mr. Atedo Peterside stepped down from his position as Chairman of the board effective 30th June 2020, in order to concentrate on other interests. He joined the board in 2009 as a Director, and had served on the board as chairman for a decade.