NIGERIA – Cadbury Nigeria Plc, subsidiary of snack and confectionery firm Mondelez International has announced the resignation of a Non-Executive Director, Mr Gawad Abaza and the appointment of Mr Nigel Parsons as his replacement.

This was disclosed in a notification, which was signed by the Company Secretary, Fola Akande, and sent to the Nigerian Stock Exchange (NSE) and the investing public.

As a show of appreciation, the Chairman and the Board of Directors of Cadbury Nigeria Plc expressed their gratitude to Mr Abaza for his services and immense contributions towards the success of the company while he was a director on the board and wished him all the best in his future endeavours.

Mr Abaza, who has been on the board of the company since 2016 and served on a number of board committees, will have his resignation take effect from Wednesday, April 1, 2020.

This means that the newly appointed Non-Executive Director, Mr Nigel Parsons, will take over on April 1, 2020.

Mr Parsons, who currently leads the operational strategy and commercial delivery of Mondelez International in Australia, is responsible for approximately 2,000 employees and a portfolio of iconic chocolate, biscuit and candy brands which include Cadbury Dairy Milk chocolate, Oreo, Belvita biscuit, the natural confectionery company and Pascal.

During his 19 years stint with the company, Mr Parsons has held other roles such as Commercial Director, Australia; Sales Director, Asia, Middle East and Africa; Sales Director, Australia; and Head of Corporate Grocery, Australia.

Nigel sits on the Australian Food and Grocery Council’s Board Sub-Committee, where he provides solutions for key industry initiatives and focus areas.

He is an engaging business leader with 30 years of experience in the branded food industry, with the knowledge that cuts across general management, sales, mergers and acquisition, strategy and transformation.

Parsons, who is South African by birth, studied commerce at the University of Natal and Business at the University of Wales.

The Food and beverage giant reported a 26% increase in profit in its audited financial statement for full-year December 2019.

The company recorded revenue of N39.3 billion (US$100.6m) against the N35.9 billion (US$91.9m), which was achieved in the corresponding period for 2018, representing a 9% increase.

Cadbury witnessed a drop in its expenses as its cost of sales dropped by about 10.6%.

The cost of sales for full-year 2019 was N31 billion (US$79.3m) as against the N28.02 billion (US$72m) which was achieved in the corresponding period for 2018. This indicates a more efficient application and management of resources by the company.