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Business News of Monday, 6 January 2020

Source: www.mynigeria.com

Afromedia makes new changes to board

Annual General meeting of Afromedia Plc Annual General meeting of Afromedia Plc

Afromedia Plc has appointed Otunba Ireola Olopade and Engr. Patrick Nwabunie as its new Group Chief Executive Officer and Chief Operating Officer, respectively.

According to a statement released by the company to the Nigerian Stock Exchange, their appointment is effective 16th December 2019.

This is coming after the resignation of Mr. Femi Olaiya and Mrs. Osen Odeyemi as Chief Executive Officer and Executive Director of the Company respectively.

The Board expressed great confidence in the abilities of the new board members, adding that they would be a great addition to the existing mix on the Board.

Otunba Olopade joined the services of Afromedia Plc in 1992 as a Product Development Manager and was elevated to the position of General Manager one year after assumption of duties based on his outstanding performance in product development, the statement read.

He was appointed Executive Director in 1995 and rose to the position of Group Managing Director of Afromedia Plc in October 1999 before subsequently handing over to Mr. Femi Olaiya in 2018. Otunba Olopade remained on the Board of the Company as a Non-Executive Director.

He is a Fellow of the Institute of Directors of Nigeria, Vice President of Outdoor Advertising Agency Nigeria, and member of other professional bodies such as, Advertising Practitioners Council of Nigeria, Screen printing and Graphic Imaging Association International, and Digital Printing & Imaging Association etc.

His wealth of experience over the years has taken Afromedia from a private limited liability company with a share capital of 10 million Naira to a publicly quoted company with share capital in excess of 2 billion Naira.

Engr. Nwabunie is a Fellow of the Institute of Directors of Nigeria, and a member of the Advertising Practitioners Council of Nigeria. He joined the services of Afromedia Plc in 1989 as Purchasing Manager and in 1991 he was elevated to the position of General Manager (Resources).

Following his excellent managerial performance, he was appointed an Executive Director in 1995 and later to the position of Deputy Managing Director of the Company in 1999 where he served for 11 years until his retirement as an Executive Director on 1st July 2011 to pursue other interests. He is a Fellow of the Institute of Directors of Nigeria, and a member of the Advertising practitioner’s council of Nigeria and an Alumnus of London Business School.