As Ifezulike Steps Down, Nestle Appoints A New Chairman

David Ifezulike, the chairman of Nestle Plc’s board of directors for consumer goods, has made his resignation from the business official and named his replacement.

David declared that independent non-executive Nestle board member Gbenga Oyebode will succeed him.

This was mentioned by the retiring chairman on Wednesday in Lagos during the company’s 54th annual general meeting.

He continued, saying that he had served as board chairman for ten years and that he intended to choose his successor at the start of the AGM so that Oyebode would have a chance to hear the shareholders’ worries and aspirations.

David further said that It has been an honor for him to serve in his capacity, and he would like to introduce his successor, Mr. Gbenga Oyebode, on behalf of the organization.

“I brought him up front so he could hear everyone’s grievances and address them. The company’s interest is the only thing that matters to us” He said.

On February 24, 2014, Oyebode was chosen to join the Nestle board of directors. He serves as director of both CFAO Nigeria and Lafarge Africa and is the chairman of Okomu Oil Palm Plc.

At the meeting, the FMCG company’s shareholders accepted the proposed final dividend of N36.50 for the fiscal year 2022.

Following the declaration of an interim dividend of N25 from the profit of 2022, the board of directors had recommended the payment of a final dividend of N36.50 (2021: N25.50) per share.

The after-tax earnings for 2022 was used to calculate the final dividend proposal of N36.50. The entire dividend handed out throughout the year was N61.50.

Nestle reported a 27% increase in revenue for the 2022 fiscal year, from N351.82 billion to N446.81 billion.


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