Meyer Plc has appointed Engr. Goodwill Sunday Asade as its new Managing Director/Chief Executive Officer.
The appointment was disclosed in a statement signed by Kalu O. Kalu (Esq) of Marriot Solicitors on Friday.
His appointment will take effect from 3 March 2026, as the company positions itself for continued growth and enhanced stakeholder value.
The announcement signals a leadership transition at the paint manufacturing company following the release of its 2025 financial results.
The Board expressed confidence in Asade’s capacity to steer the company’s strategic objectives. His appointment comes at a time when Meyer Plc is reporting improved profitability and revenue growth.
What they are saying
The company said the appointment has been formally communicated to the Nigerian Exchange Limited (NGX), shareholders, and the investing public. The Board noted that Asade brings significant experience that aligns with the company’s long-term strategy.
- “Meyer Plc (Meyer or the Company) hereby informs Nigerian Exchange Limited (NGX), its shareholders, and the investing public of the appointment of Engr. Goodwill Sunday Asade as the Managing Director/Chief Executive Officer, effective from 3rd March 2026.”
The Board added that it is confident Engr. Asade will bring a wealth of experience to drive the Company’s strategic objectives and enhance stakeholder value.
Backstory
Engr. Goodwill Sunday Asade began his professional career at Cadbury Nigeria Plc, where he worked in Operations and held various positions over the years. His career at Cadbury spanned 18 years and involved increasing levels of responsibility across multiple functions.
- He worked across manufacturing, plant maintenance, and operations management.
- He handled sourcing strategy and commodity management responsibilities.
- He was involved in project management and served as a source-to-pay catalyst on SAP resource.
- In April 2013, he was appointed Group Procurement Director at A.G. Leventis (Nig.) Plc.
In April 2018, he rose to become Chief Operating Officer of A.G. Leventis, where his responsibilities expanded to include Leventis Motors sales and marketing, after-sales engineering, truck assembly operations, real estate and fleet solutions business units, procurement, and QHSE.
More Insights
Engr. Asade holds a Bachelor of Engineering degree in Mechanical Engineering from the University of Ilorin and a Master of Business Administration from the University of Lagos. He is also an alumnus of Harvard Business School, Boston, USA.
- He is a Fellow of the Nigeria Institute of Management.
- He is a registered Engineer with the Council for the Regulation of Engineering in Nigeria (COREN).
- He is a member of the Nigeria Society of Engineers and the Chartered Institute of Purchasing and Supply, UK.
- He has over three decades of cross-functional expertise spanning reliability engineering, procurement strategy, sales and marketing, business digitalization, operations management, and business transformation.
He is widely regarded as a business transformation and change leader, public speaker, coach, and mentor with extensive experience implementing supply chain vision and driving operational excellence.
What you should know
Last month, Meyer Plc released its unaudited financial results for the year ended 31 December 2025, reporting a pre-tax profit of N737 million. This represents a 61% increase compared to N457.602 million recorded in the previous year.
- Revenue grew by 36% to N4.232 billion, driven by increased demand for its paint products.
- The reported revenue is almost half of the company’s total revenue recorded over the past five years.
- Profit after tax stood at N550 million, marking an 86% increase year-on-year.
- Investors are closely watching to see the company surpass the N1 billion profit mark achieved in 2020.
The new appointment comes as the company builds on its improved financial performance, with stakeholders keen to see whether the fresh leadership will help Meyer Plc consolidate its growth trajectory and return to previous peak profitability levels.
