Ibukun Awosika has resigned from the board of Cadbury Nigeria Plc after more than 16 years of service, bringing to a close a long-standing tenure at the company.
The resignation takes effect from 1 May 2026 and was confirmed in an official statement signed by the company secretary, Afolasade Olowe, and communicated to Nigerian Exchange Limited and the investing public.
Cadbury Nigeria said the board had accepted Awosika’s resignation and expressed appreciation for her contributions since she joined as a Non-Executive Director in October 2009.
The company added that her replacement would be announced in due course as it continues efforts to strengthen its governance structure.
Awosika is widely recognised for her leadership across Nigeria’s corporate landscape. She is the founder and chairperson of The Chair Centre Limited, which operates in office furniture and banking security systems.
She holds a degree in Chemistry from Obafemi Awolowo University and has completed executive education at Lagos Business School and IESE Business School.
Beyond Cadbury, she made history as the first female chairperson of First Bank of Nigeria and has served on several high-level boards, including the Nigerian Sovereign Investment Authority and the National Job Creation Committee.
Her departure comes as Cadbury Nigeria reports a strong financial rebound. The company posted a pretax profit of ₦17.2 billion for the 2025 financial year, recovering significantly from a ₦28.3 billion loss recorded in 2024.
The turnaround has been driven by revenue growth and improved operational performance. Full-year revenue rose by 31.49% to ₦169.8 billion in 2025, with domestic sales accounting for the bulk of earnings.
Quarterly results also reflected this momentum, with pretax profit in the fourth quarter of 2025 increasing by 68.6% year-on-year.
Awosika’s exit marks a leadership transition at a time when Cadbury Nigeria is regaining financial stability and positioning for sustained growth. Her tenure spans a period of both challenges and recovery, during which the company navigated significant market shifts.
As the company prepares to appoint a successor, attention is likely to focus on how it sustains its recent performance and strengthens its position in Nigeria’s competitive consumer goods sector.
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