Renowned business leader Ibukun Awosika has resigned from the Board of Directors of Cadbury Nigeria Plc after nearly two decades of service.
Awosika, who joined the board in October 2009, exits after a 17-year tenure marked by significant transformation within the company, providing steady leadership through changing market conditions and major shifts in Nigeria’s corporate landscape.
In a notice to the Nigerian Exchange Limited and the investing public, Cadbury confirmed that her resignation takes effect from Friday, May 1, 2026.
“This is to notify Nigerian Exchange Limited and the investing public that the Board has considered and accepted the resignation of Mrs. Ibukun Awosika as Director of Cadbury Nigeria Plc (the Company) with effect from Friday, 1st May 2026,” the company stated.
The development comes as the company’s stock trades at its 52-week high, having gained 22.70 percent this year to close at ₦73.50 as of April 28.
Cadbury also reported a strong financial turnaround in its unaudited 2025 results. The company posted a profit before tax of ₦17.27 billion, representing a 161 percent increase from the ₦28.33 billion loss recorded in 2024.
Gross profit rose by 101 percent from ₦18.23 billion to ₦36.60 billion, while net profit stood at ₦12.09 billion, reversing a ₦22.22 billion loss in the previous year an increase of 154 percent.
Turnover also grew by 31 percent, rising from ₦129.17 billion in 2024 to ₦169.84 billion in 2025. Basic earnings per share increased by 154 percent to 530 kobo, compared to a loss of 975 kobo recorded the previous year.
The board expressed appreciation for Awosika’s contributions, noting that her replacement would be announced in due course.
Known for her advocacy for ethical corporate governance and increased female representation in leadership, Awosika played a key role in shaping one of the few female-led boards in Nigeria’s manufacturing sector.
Her departure marks the end of a significant chapter, leaving behind a legacy that has influenced Cadbury Nigeria’s strategic direction as she moves on to focus on global advisory roles and entrepreneurial ventures.
Elijah Adeyemi
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