The Board of Directors of Lafarge Africa Plc (the “Company”) hereby notifies Nigerian Exchange Limited and the investing public of the following changes to the Management of the Company:
1. The resignation of Mr. Khaled El-Dokani as the Group Managing Director/Chief Executive Officer (GMD/CEO) of the Company with effect from 30th June 2023.
Mr. Khaled El-Dokani was appointed to the Board of the Company on the 18th of January 2020 as an Executive Director. By virtue of his exemplary and outstanding leadership, Mr. El-Dokani successfully led and navigated the Company through the challenges of COVID-19 pandemic, recording unprecedented financial performance consistently year-on-year in spite of the challenging business environment. He implemented a turnaround plan for the business thereby addressing the industrial, financial, and human resource challenges of the Company. He successfully entrenched and upheld a strong ethical culture, gender diversity, and sustainability principles, which are part of Holcim Group’s core values.
With effect from his resignation as GMD/CEO, Mr. Khaled El-Dokani will cease to be an Executive Director of the Company, but will continue to serve on the Board, as a Non-Executive Director.
On behalf of the Board, we thank Mr. Khaled El-Dokani for his service and commitment over the last three years as GMD/CEO of Lafarge Africa Plc.
2. The appointment of Mr. Lolu Alade-Akinyemi as the Group Managing Director/Chief Executive Officer (GMD/CEO) of the Company with effect from 1st July 2023.
Prior to this appointment, Mr. Alade-Akinyemi was the Chief Financial Officer (CFO) and the supply chain director of the Company. He was appointed an Executive Director to the Board on the 8th of April 2020. Mr. Lolu Alade-Akinyemi has over 20 years of cross-functional experience in finance, supply chain, business development, and sales. Lolu is a seasoned business executive with multifaceted international experience and accomplishments in turnaround situations, transforming processes to improve business performance, fostering growth in challenging business environments, and Profit & Loss oversight.
Prior to joining Lafarge in 2014, he was Finance Director, PZ Cussons Nigeria Plc for 4 years and he was at the Coca-Cola Company for 16 years where he worked in the UK, Belgium, Ghana and Nigeria taking increased responsibilities in finance, business development, supply chain and sales. He started his career as a trainee at ExxonMobil. Mr. Lolu Alade-Akinyemi is a certified accountant and holds a Bachelor’s degree in Economics from the University of Essex, and an MBA from the Edinburgh Business School, UK.
The Board wishes Mr. Lolu Alade-Akinyemi success in his new role as the Group Managing Director/Chief Executive Officer (GMD/CEO) of Lafarge Africa Plc.
BY ORDER OF THE BOARD
General Counsel & Company Secretary