Businesswoman and former chairman of First Bank of Nigeria Ltd Ibukun Awosika has resigned from the board of Cadbury Nigeria Plc, ending a 17-year tenure.
The company announced the resignation in a notice to the Nigerian Exchange Limited and investors on Wednesday.
The resignation takes effect from May 1.
“The Board has considered and accepted the resignation of Mrs. Ibukun Awosika as Director of Cadbury Nigeria Plc with effect from Friday, 1st May 2026,” the company said.
It said a replacement will be announced later.
Awosika joined the board in October 2009 and served through several changes in the company’s operations and market conditions.
Cadbury Nigeria said it appreciated her contribution during her time on the board.
“The Board expresses its deep appreciation to Mrs. Awosika for her valued contribution since her appointment in October 2009,” it said.
Ibukun Awosika is the founder of The Chair Centre Group. She has also held roles in private sector advisory work.
During her tenure at Cadbury Nigeria, the company went through changes in governance and financial performance.
The company’s stock has risen by 22.70 percent year-to-date and traded at N73.50 as of April 28.
For the 2025 financial year, Cadbury Nigeria reported a profit before tax of N17.27 billion, compared with a loss of N28.33 billion in 2024.
Gross profit rose to N36.60 billion from N18.23 billion, while net profit was N12.09 billion, reversing a previous loss.
Turnover increased to N169.84 billion from N129.17 billion. Earnings per share rose to 530 kobo from a loss of 975 kobo.
The company said Awosika’s exit will be followed by the appointment of a new board member at a later date.
