Flour Mills of Nigeria CEO Paul Gbededo to retire, company announces changes to its board

NIGERIA – Flour Mills of Nigeria (FMN) Plc, Nigeria’s leading integrated Food and Agro-allied group, has announced the retirement of Mr. Paul Gbededo as its Group Managing Director/Chief Executive Officer, effective 31st December, 2020 after a long and fulfilling career with the company spanning over 38 years.

To fill his shoes the Board has appointed Mr. Omoboyede Oyebolanle Olusanya (Boye) FMN’s Group Chief Operating Officer to take over the helm of the company, effective 1st January 2021.

According to FMN, Paul will remain on the Board as he has been elevated to the position of Vice Chairman of the Board of the company.

He has taken over the position held by his predecessor Chief (Dr.) Emmanuel Akwari Ukpabi (KJW), who was designated the role following his retirement as the Group Managing Director on 31st March 2013, paving way for Paul to steer the company ahead.

Dr. Emmanuel has completed his stint at the company as he retired from the Board on 3rd December, 2020.

Paul Gbededo’s career with the diversified agri-focused company started at the Nigerian Bag Manufacturing Company (BAGCO) as a management trainee in 1982.

ADVERT

Since then, he took up several managerial positions within the group including, becoming the first Nigerian Production Director for BAGCO in 1996, the pioneer General Manager/Director in charge of fertilizer operations, the pioneer General Manager/Director for Golden Pasta Company Limited, and Managing Director, Agro-Allied business with responsibility to implement FMN Group’s backward integration policies, programmes and initiatives.

On the 13th of March 2013, he was appointed member of the Board of Directors and designate Group Managing Director / Chief Executive Officer, a position he assumed fully effective April 1, 2013.

“It has truly been a great privilege and honour to have worked with some of the best minds in our country and indeed across the world. I am truly proud of our rich heritage, our winning culture and market capability that had over the years positioned us for continuous growth.”

Paul Gbededo

Mr. John Coumantaros, Chairman of the Board recognized Paul’s meritorious service to the Group noting that, “Paul is a brilliant colleague and an exceptional leader who we will miss dearly. On behalf of the board, I must express our heartfelt thanks for his extraordinary contributions in leading our great company through a period of growth, expansion and profitability.

Commenting on the announcement in regards to his retirement, Paul Gbededo stated, “It has truly been a great privilege and honour to have worked with some of the best minds in our country and indeed across the world. I am truly proud of our rich heritage, our winning culture and market capability that had over the years positioned us for continuous growth.

“I cannot deny that I will miss the rigorous strategy sessions with the board, the passion of the executive team, and of course the relentless inventive spirit of our people across various businesses locations in the country. Nevertheless, I must say that I am confident that it is time to hand over leadership to the next generation”.

FMN appoints new Group Managing Director/CEO

The newly appointed CEO/ Group Managing Director, Oyebolanle Olusanya was admitted to the group’s Board of Directors since July 2020.

He joined FMN in January 2020 as Group Chief Operating Officer and has been a core member of the executive management team.

He is both an engineer and a computer scientist by training and graduated with Honours from the University of Lagos, as an engineer and furthered his career at masters’ level at the Universities of Liverpool and Manchester, England where he obtained his M.Sc. Computer Science and M.Sc. Environmental Civil Engineering respectively.

Olusanya has also attended several management programs at the Harvard, London and Lagos Business Schools.

He began his career over three decades ago as an Engineer with Ove Arup and Partners, a global design consultancy firm.

Olusanya has held several executive positions in various industries most recently as the Group Operating Partner at Helios Investment Partners, a global private equity firm, where he managed diverse investment portfolios.

Other company’s he has worked with include Telecommunication Service Limited (formerly Etisalat), GA Capital Ltd, Dangote Industries Limited, Dancom Technologies, Acting CEO and VEE Networks limited formerly ECONET Wireless

Reflecting on his appointment, Omoboyede Olusanya said, “It is an absolute honour, and I am committed to carry the legacy of our great company forward as we continue to deliver on our brand’s golden promise of excellence.

“With the support of the board and my colleagues on the executive team, I can assure our customers, consumers and other stakeholders that we are poised for the next phase of growth and development.”

The owner of the iconic brand – ‘Golden Penny’, has also named Alhaji Muhammed K. Ahmad, as an Independent Non- Executive Director on the Board with effective 3rd December, 2020.

Alhaji is a seasoned public sector executive with over 35 years of distinguished experience spanning the public sector and the financial services industry.

Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.