Barely two months after securing victory in court as the authentic chairman of Ikeja Hotels plc, Mr. Goodie Ibru has retired from that office.

Mr. Ibru, recipient of the national honour of Officer of the Order of the Niger, OON, said he took the decision in the overall interest of the company and the larger Ibru family.

Goodie Ibru

Mr Goodie Ibru, in a statement, anchored his decision on the need to get Ikeja Hotels to perform optimally, which have been hampered as a result of multiplicity of lawsuits filed by shareholders in the contest for the management and control of the company.

He stated that the decision of Justice Kafarati of the Federal High Court, Abuja, confirming him as chairman vindicates his struggle for corporate governance in the company and provides right timing for him to retire as founding chairman after 32 successful years in office.

Mr. Ibru called on the younger generation of Ibrus to work with other shareholders to continue to carry on the torch of excellence, for which Ikeja Hotels was known.

He stated also that the Ibru family has gone through a tough phase in the recent past and as the only surviving son of the first generation of Ibrus he is more committed to working with his sisters on keeping the family united.

Mr. Ibru founded Ikeja Hotels Plc in 1975. He opened its flagship property, the Lagos Sheraton Hotel and Towers, in 1985. The company acquired in 1992 the Tourist Company of Nigeria Plc, the holding company of the Federal Palace Hotel and Casino.

Also under Mr. Ibru’s chairmanship, the group acquired Capital Hotels Plc, the owner of the Abuja Sheraton Hotels and Towers.

Mr. Ibru, 75, has been a leading light of the hospitality industry in Nigeria for  four decades.