By YaKubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)- Afromedia Plc listed on the media sector of the Nigerian stock exchange (NSE) Wednesday announced it has appointed a chairman and four (4) new non-executive directors to its board.
According to the company in a notice to the Nigerian stock exchange (NSE) said the four (4) new non-executive directors comprises of visionary Nigerians from various walks of life who have enviable track records of achievements and professionalism.
Afromedia affirmed that as a forward-looking company, it has repositioned its board of directors at this time as part of its strategies for a quantum leap in its corporate performance, and in full preparation for upturning setbacks it was faced with since 2011.
‘’ It need be recalled that the businesses of Afromedia Plc witnessed significant adversity in its operating environment in the past few years,’’ the statement said.
Akin Ire Olopade, managing director (MD) of the media servicing company in announcing the appointments said the company’s new visionary and dynamic board of directors is based on the need for the company to reinvigorate its board for enhanced corporate performance.
Olopade said the four (4) new board members have been strategically selected and appointed to fill in the vacancies created by the former non –executive board members, who for unavoidable and urgent personal interest left the company recently in pursuance of their other private endeavours.
The appointees are Idowu Iluyomade – Chairman, Patrick Osita Nwabunie, vice chairman, Ernest C. Ebi, Victor Ogiemwonyi and Ibrahim Isiyaku as non- executive directors respectively.
Iluyomade is a distinguished lawyer and an entrepreneur, bringing his wealth of experience in corporate governance and entrepreneurship to bear on the strategic direction of Afromedia. He is the new chairman of the board; a position formerly occupied by Onaolapo Soleye who resigned late last year to pursue his other interests.
Nwabunie is a long-time member of the company and its retired deputy group managing director (DGMD) as non-executive director, He is now appointed vice chairman of the firm in the recently repositioned board.
While Ebi has been appointed a new non-executive director of Afromedia, he is a distinguished banker and former deputy governor of the central bank of Nigeria (CBN).
Isiyaku is a distinguished legal luminary has also been appointed as a non-executive director of Afromedia.
On his part, Ogiemwonyi was appointed a non-ED of Afromedia, he is a seasoned investment banker, stock-broker and entrepreneur.
Afromedia said these non-executive board members working collaboratively with Olopade, the GMD of the company and S.O.S. Nwachukwu, the group finance director on the board, are collectively committed to the company’s journey to becoming the most successful group of companies in media industry in Africa.
Apart from these appointments, the company has also fine-tuned its corporate strategy to launch a new corporate structure, which its board and management strongly believe will more accurately reflect the company’s vision to harness abundant opportunities in its niche markets in the media industry. ‘’The essence of the strategy is to provide a more robust corporate performance structure for achieving and sustaining satisfactory growth in returns to all its stakeholders,’’ the company said.
