Cadbury Nigeria appoints Salami Chairman as Sulaimon exits Board

Cadbury Nigeria Plc has announced a major leadership transition at its board level, appointing renowned economist and former presidential economic adviser, Rasaq Adedoyin Salami, as its new Chairman following the resignation of Adedotun Sulaiman. The company also named seasoned business executive Uwa Osa-Oboh as an Independent Non-Executive Director in a move aimed at strengthening its corporate governance framework.

The appointments, which took effect on August 3, 2026, were disclosed in a regulatory filing signed by the Company’s Secretary, Afolasade Olowe, and submitted to the Nigerian Exchange Limited (NGX) and the investing public.

The board described the changes as part of its succession and governance strategy, while paying glowing tribute to Sulaiman, who served on the board for 17 years, including six years as Chairman.

Sulaiman joined Cadbury Nigeria as a Non-Executive Director in August 2009 before assuming the chairmanship on July 22, 2020. During his tenure, he guided the company through a challenging operating environment marked by economic headwinds, rising production costs and significant shifts in Nigeria’s consumer goods market.

A respected management consultant, Sulaiman built his career at Arthur Andersen, Andersen Consulting and Accenture, retiring as Country Managing Director and Chairman of Accenture Nigeria in 2010. Beyond Cadbury, he has chaired and served on the boards of several leading companies and institutions, including SecureID Limited, Interswitch Limited and the Financial Reporting Council of Nigeria.

Cadbury Nigeria’s Managing Director, Ayman Fahmy Gaafar, credited the outgoing chairman with providing stable leadership during one of the company’s most demanding periods.

According to him, Sulaiman made immense contributions to the company’s growth and governance over nearly two decades, adding that the board appreciates his service and wishes him success in his future endeavours.

The appointment of Salami places one of Nigeria’s most respected economists at the helm of the confectionery manufacturer at a time when companies in the fast-moving consumer goods sector are grappling with inflationary pressures, exchange-rate volatility and changing consumer spending patterns.

Salami, who joined Cadbury Nigeria’s board as an Independent Non-Executive Director in March this year, brings more than three decades of experience spanning economic policy, academia, corporate governance and management consulting.

He currently serves as Chief Executive Officer of KAINOS Edge Consulting Ltd, an economics advisory firm, and has held leadership positions across the insurance, pensions, infrastructure and asset management sectors.

His public service credentials include serving as Chief Economic Adviser to former President Muhammadu Buhari and previously chairing the Presidential Economic Advisory Council. He has also contributed to economic policy beyond Nigeria through membership of the International Monetary Fund’s Advisory Group for Sub-Saharan Africa and consulting assignments for institutions including the World Bank, the International Finance Corporation, the United Nations Industrial Development Organisation and the United Kingdom’s Department for International Development.

Salami is also widely recognised in academic circles for his long association with the Lagos Business School, Pan-Atlantic University, where he serves on the adjunct faculty with research interests covering macroeconomic modelling, manufacturing competitiveness, agricultural development and financial sector reforms.

In addition to the chairmanship transition, Cadbury Nigeria expanded its board with the appointment of Osa-Oboh as an Independent Non-Executive Director.

A lawyer and corporate strategist, Osa-Oboh currently heads Corporate Development at Capital Alliance Nigeria, a member of African Capital Alliance Group. She previously served as Chief Executive Officer of management consulting firm ReStraL Limited, where she advised both private sector organisations and public institutions on strategy, organisational transformation and performance improvement.

Her career also spans legal practice and corporate finance, giving her expertise across law, finance, governance and business leadership.

Gaafar described both appointments as strategic for the company’s future, expressing confidence that Salami’s economic insight and Osa-Oboh’s multidisciplinary experience would support Cadbury Nigeria’s long-term growth ambitions and enhance board effectiveness.

The leadership changes come as listed consumer goods companies continue to strengthen governance structures and reposition for sustained profitability in an increasingly competitive and challenging business environment. Market analysts say the appointment of experienced board leaders with strong policy, governance and strategic credentials reflects the growing emphasis among Nigerian listed companies on robust oversight, long-term value creation and investor confidence.