Cadbury Nigeria names Oyeyimika Adeboye as new Managing Director, Ogaga Ologe as Finance Director

Cadbury Nigeria names Oyeyimika Adeboye as new Managing Director, Ogaga Ologe as Finance Director

BUSINESS
Cadbury Nigeria Plc on Tuesday announced the appointment of Mrs Oyeyimika Adeboye as the company’s new Managing Director effective 1st April 2019. Mrs Adeboye takes over from Mr Amir Shamsi, who will take on a new role within Mondelēz International, the parent company of Cadbury Nigeria. Mrs Adeboye would be the first woman Managing Director in Cadbury Nigeria history. Her appointment attests to the Company’s commitment to promoting gender equality, diversity and inclusion. Mrs Adeboye, a chartered accountant, joined the Board of Cadbury Nigeria as Finance and Strategy Director, West Africa region in November 2008. Prior to joining Cadbury Nigeria, Mrs Adeboye was the Director of Finance and Chief Financial Officer of Nigerian Bottling Company Plc. She previously worked for the erstwhile A

Cadbury Nigeria sustains growth momentum at full year

BUSINESS
Cadbury Nigeria Plc reported a net earnings growth of 174% in 2018. Profit skyrocketed to ₦823m from ₦300m in 2017. The leap in profit was helped by a 9% sales growth to ₦35.9 from ₦33bn, with its flagship Bournvita and 3-in-1 Hot Chocolate, which contributed 59% of Group sales recording 17.55% sales increase. Net profit also received a boost from cost management initiatives, with Selling & Distribution expenses dropping 10% and administrative expenses declining marginally by 1.46%. The company said that Intermediate Cocoa Products which includes cocoa powder, cocoa butter, cocoa liquor and cocoa cake, (contributing 14% of Group sales) grew by 9% in the period, helping lift sales. However, the confectionary products (Tom Tom, Buttermint, Clorets and Trident) which contributed 27% of Gr

FrieslandCampina WAMCO partners IFDC to increase milk production in Nigeria

BUSINESS
FrieslandCampina WAMCO has partnered with the International Fertilizer Development Center (IFDC), a science-based public organization, in a project that aims to boost milk production for pastoralist milk producers in Nigeria. Along with IFDC, the company said it will work together with pastoralist milk producers in Oyo State, to boost the quality and quantity of local milk and improve the livelihoods of farmers. The dairy partnership, which is known as the 2SCALE project will try to alleviate the contribution of women in the country’s dairy farming sector by specifically focusing on women and their needs. The dairy partnership which has 1,800 milk producers, of which 950 are women, will provide technical, entrepreneurial and leadership training. The project will also set up water points at

AB InBev reorganizes board; appoints new board chairman, others

BUSINESS
Anheuser-Busch InBev has announced the appointment of Martin Barrington as its new board chairman. Mr Barrington, a former chief executive officer of cigarette maker Altria Group, a major shareholder of AB InBev with 10.2% stake, has been on the company’s board since 2016. Barrington replaces Olivier Goudet, CEO and managing partner at Investment Company JAB Holdings, whose recent activities in the beverage and restaurant industries has created a conflict of interest for him. JAB Holdings, which is controlled by the Reimann family of Germany has been buying up assets including Caribou Coffee, Panera Bread and Pret A Manger. The appointment is subject to shareholder’s approval at the next meeting on April 24. Barrington retired from the Marlboro maker, Altria after six years as CEO. The cha