Nestlé Appoints Oyebode as Board Chairman as Ifezulike Retires

Rebecca Ejifoma

The Board of Nestlé Nigeria PLC has appointed Mr Gbenga Oyebode as the new Chairman of the Board of Directors with effect from 18th May 2023.

Nestlé announced the appointment to shareholders and other stakeholders at its Annual General Meeting (AGM) of Nestlé Nigeria PLC, held at the MUSON Centre.

This appointment comes on the heels of the retirement of Mr David Ifezulike as a Director and Chairman of the Board of the Company with effect from 18th May 2023.

Oyebode qualified as a Solicitor and Advocate of the Supreme Court of Nigeria in 1980. He holds a Master of Laws degree and is the co-founder of the law firm of Aluko & Oyebode.

He is a Fellow of the Chartered Institute of Arbitrators (UK) and the Nigerian Leadership Initiative. He is the Chairman of Okomu Oil Palm PLC, Teach for All, and the African Philanthropy Forum.

Oyebode is also a director of both CFAO Nigeria and Lafarge Africa PLC. He is a member of the Board of Trustees of the Ford Foundation.

He was first appointed to the Board of Nestlé Nigeria PLC on 24th February 2014 and has served on the Statutory Audit Committee, Nomination, Governance and Remuneration Committee, as well as the Board Audit and Risk Management Committee of the Company.

On the other hand, Ifezulike, who holds a Master’s in Management Science and a Diploma from Imperial College, London, was appointed to the Board of Nestlé Nigeria PLC on 22nd December 2000.

He became the Chairman of the Board on 13 May 2013, and served the Company meritoriously during his tenure.

He joined Nestlé Nigeria PLC on 1st January 1980 and worked for over 26 years in various capacities and locations, including Nigeria, Malaysia, Zimbabwe, Switzerland, and Ghana.

Ifezulike was on an international exchange programme as Factory Manager of Nestlé Ghana between May 1999 and April 2003.

He retired from Nestlé Nigeria PLC as the Executive Director, Industrial Development, in October 2006.

The Board of Nestlé Nigeria PLC thanked Ifezulike for his contributions to the growth of the company and wished him success in his future endeavours.

The Board of Nestlé Nigeria PLC also expressed confidence in the ability of Oyebode to further contribute to the development of the company and wished him personal satisfaction in his new role.