Flour Mills of Nigeria Plc (FMN), Nigeria’s leading integrated Food and Agro-allied group, has announced the retirement of Paul Gbededo as its Group Managing Director/Chief Executive Officer, effective 31st December, 2020. However, the Board approved his appointment as the Non-Executive Vice Chairman of the Board of company.
Described as a brilliant and exceptional leader who will be dearly missed in his capacity as GMD/CEO, the Chairman of the Board, Mr. John Coumantaros stated: “On behalf of the board I must express our heartfelt thanks for his extraordinary contributions in leading our great company through a period of growth, expansion and profitability.
“After 38 years of meritorious service to the Group, he is leaving the business in an executive capacity at an excellent position for further growth and we wish him the very best as he takes on a new chapter in life, which I trust will include a well-earned rest and plenty of time with his beloved family.”
Gbededo’s career with the FMN Group started at the Nigerian Bag Manufacturing Company (BAGCO) as a management trainee in 1982.
Since then, he had taken up several managerial positions within the group including, the first Nigerian Production Director for BAGCO in 1996, the pioneer General Manager/Director in charge of fertilizer operations, among others.
Speaking on his retirement, Gbededo stated: “It has truly been a great privilege and honour to have worked with some of the best minds in our country and indeed across the world. Nevertheless, I must say that I am confident that it is time to hand over leadership to the next generation”.
Reacting to the change in mantle, the GMD/CEO Designate, Mr. Boye Olusanya said: “Paul, my mentor and friend, is an outstanding business leader and fine gentleman who had played well his part and did great things for our company. He has left behind some big shoes to fill and our company is, because of his strategic leadership, on a solid base to build from. I shall be counting on his advise to take our company to the next level.”
Listed on the Nigerian Stock Exchange, FMN is a fully integrated and diversified food and agro-allied group, which strives to “Feed the Nation, Everyday” through its five core food value chains: Grains, Sweeteners, Oils and Fats, Proteins and Starches.