Foodco emerges Retail Company of the Year in Nigeria Business Leadership awards
Foremost multichannel retailer, Foodco Nigeria Limited, has won the award for Retail Company of the Year at the 2020 Businessday Nigeria Business Leadership Awards, held in Lagos recently.
Foodco joined a list of 38 companies and eight CEOS recognized for their remarkable leadership and sustained commitment to excellence in enterprise.
According to Ogho Okiti, Managing Director, Businessday Media Ltd., organizers of the Awards: “the criteria for vetting was based on a balanced scorecard that assigns weighted averages to leadership, innovation, market share, process improvement, financial performance, employee job satisfaction, social and environmental focus and compliance with extant regulatory requirements.”
He continued, “Foodco’s track record of leadership in the consumer goods industry in an undoubtedly tough economic year, impressive year-on-year performance, values of integrity and the highest professional standards at a time when stakeholders and regulators are holding boards accountable to stringent governance expectations and it’s sustained commitment to national development through significant investments in local capacity building informed the decision to bestow the company with this award.”
In his acceptance speech, Ade Sun-basorun, Chief Executive Officer, Foodco, expressed appreciation to the organizers for the recognition and dedicated the award to the entire Foodco team as well as the company’s customers.
He said: “We are truly humbled by this recognition. In what has been a challenging yet remarkable year for us, we have worked hard to make appreciable strides in many areas of our business and today, we are proud to be one of only two multichannel retailers in the country as well as operators of Nigeria’s first true online supermarket.”
Established 39 years ago, Foodco is a diversified consumer goods company with interests in retail, quick service restaurants, entertainment and manufacturing.