THUR, MAY 07 2020-theG&BJournal- Lafarge Africa Plc today announced Mr Adebode Adefioye as successor to retiring chairman and board member, Mr Mobolaji Balogun who is voluntarily stepping down after 15 years in the company.
Adefioye will succeed Mr Mobolaji Balogun as Lafarge Africa Chairman effective 4th June 2020, the company said in a statement.
According to the company, Mobolaji Balogun has notified the Board of Directors, of his intention to retire voluntarily as Chairman and step down as a member of the Board after the conclusion of the 2020 Annual General Meeting. Balogun served for 10 years as a Non-Executive Director and was appointed Chairman in May 2015.
Adefioye, a Non-Executive Director of the Company is the Chairman, Board Finance and Strategy Committee, Chairman, Board Property Optimization Committee and a Member of the Nominations, Governance and Remuneration Committee. He has also served on the Statutory Audit Committee and the Risk Management & Ethics Committee of the Company.
“I am honoured to be appointed Chairman of this great Company. Mr. Adefioye said after his appointment. Adding that Mobolaji Balogun has been an exemplary and resourceful leader who has contributed in no small measure to steering the Company through the most difficult times leading to a healthier financial position of the Company.
‘’In bearing the torch further, I look forward to working with Mr Khaled El Dokani, his Management team and the Board of Lafarge Africa to ensure positive outcome for the Company’s objectives.”
Mobolaji Balogun commenting on his intention to retire thanked the staff and his colleagues on the Board for their unwavering commitment and support. He said, “Having overseen the progress in our transformation plan, the clean-up of our balance sheet, its return to robust profitability, streamlining of our operations, the renewal of our Board and the smooth CEO and CFO succession plan, it is with a deep sense of gratitude to God, that I feel fulfilled, in retiring as Chairman, knowing that the Board and our Company is in very good shape.’’
According to Balogun, Prince Adefioye has been an active member of the Board and brought added skills to the Board in an energetic and pragmatic manner.
‘’He understands the heritage and fits within the culture of Lafarge Africa at Board, operational and within the global business and he also acknowledges the absolute need for continuity being an essential aspect of him taking on the role of Chairman at this pivotal time. I am delighted that the Board was able to appoint him into this role and Prince Adefioye will now lead the Company into its next phase and I pray for a successful tenure for him. I ask all of our shareholders and stakeholders to give him your support and keep him in your prayers”.
Mr Khaled El Dokani, Lafarge Africa’s Group Managing Director said “with our strengthened balance sheet and clear strategy to deliver innovative solutions to our customers, increase trust and value creation or all shareholders, employees and communities where we operate through our sustainability goals, I look forward to working closely with Mr Adefioye as the new Chairman of the Board, to deliver on the company’s strategy.’’