Nestlé Appoints New Board Chairman, Oyebode as Ifezulike Retires

Nestlé Appoints New Board Chairman, Oyebode as Ifezulike Retires

The Board of Nestlé Nigeria PLC has appointed Mr. Gbenga Oyebode, MFR, as the  
new Chairman of the Board of Directors with effect from May 18, 2023.
The appointment announced to shareholders and other stakeholders at the Annual  
General Meeting of Nestlé Nigeria PLC, held at the MUSON Center on May 17,  
2023, follows the retirement of Mr. David Ifezulike as a Director and the Chairman  
of the Board of the Company with effect from May 18, 2023.

Mr. Oyebode qualified as a Solicitor and Advocate of the Supreme Court of Nigeria  
in 1980. He holds a Master of Laws degree and is the co-founder of the law firm  
of Aluko & Oyebode. He is a Fellow of the Chartered Institute of Arbitrators (UK)  
and the Nigerian Leadership Initiative. He is the Chairman of Okomu Oil Palm PLC,  
Teach for All, and the African Philanthropy Forum. He is also a Director of both  
CFAO Nigeria and Lafarge Africa PLC as well as a member of the Board of Trustees  
of the Ford Foundation.

Mr. Oyebode was first appointed to the Board of Nestlé Nigeria PLC on February  
24, 2014, and has served on the Statutory Audit Committee, Nomination,  
Governance and Remuneration Committee as well as the Board Audit and Risk  
Management Committee of the Company.  
Mr. Ifezulike who holds a Masters in Management Science and a Diploma of  
Imperial College, London, was appointed to the Board of Nestlé Nigeria PLC on  
December 22, 2000. He became the Chairman of the Board on May 10, 2013 and
served the Company meritoriously during his tenure.  
He joined Nestlé Nigeria PLC on January 1,1980 and worked for over 26 years in  
various capacities and locations including Nigeria, Malaysia, Zimbabwe,  
Switzerland, and Ghana. He was on an international exchange program as Factory  
Manager of Nestlé Ghana between May 1999 and April 2003.  
He retired from Nestlé Nigeria PLC as the Executive Director, Industrial development in October, 2006.

 The Board of Nestlé Nigeria PLC thanked Mr. Ifezulike for his contributions to the  
growth of the Company and wished him success in his future endeavours.
The Board of Nestlé Nigeria PLC also expressed confidence in the ability of the  
new Chairman of the Board of Directors, Mr. Oyebode, to further contribute to the  
development of the Company and wished him personal satisfaction in his new  
role.