Consumer goods giant, Cadbury Nigeria Plc has announced the resignation of a Non- Executive Director, Gawad Abaza with effect from April 1 and the appointment of Nigel Parsons as his replacement.
The makers of beverage drink Bournvita in a notice to the exchange commended the outgoing director for his service and immense contribution towards the success of the company while he was a director on the board and wished him all the best in his future endeavours.
Abaza, who has been on the board of the Cadbury since 2016 and served on a number of board committee.
The new director, Parsons a South African by birth, studied commerce at the University of Natal and Business at the University of Wales. He currently leads the operational strategy and commercial delivery of Mondelez International in Australia and is responsible for approximately 2,000 employees and a portfolio of iconic chocolate, biscuit and candy brands which include Cadbury Dairy Milk chocolate, Oreo, Belvita biscuit, the natural confectionery company and Pascal. He has held other roles such as Commercial Director, Australia; Sales Director, Asia, Middle East and Africa; Sales Director, Australia; and Head of Corporate Grocery, Australia.
Parsons sits on the Australian Food and Grocery Council’s Board Sub-committee, where he provides solutions for key industry initiatives and focus areas.
After a disappointing 2016 result, which saw Cadbury plunge into a loss of N296.4million on the back of an economic recession, the food and beverage maker seems to have gained momentum. But even more impressive was how the numbers have surged in the last six years.
In its 2019 full-year unaudited result, Cadbury shrugged off a harsh operating environment coupled with a cash-strapped consumers to record a 9percent jump in revenue to N39.32bn from N35.97bn recorded in the same period in 2018. It grew its profit before tax from N1.22bn in 2018 to N1.54bn in 2019. A trend analysis further shows that it grew its Profit Before Tax from a loss of N562.87million in 2016 to 360million in 2017.
Shares of Cadbury traded at N on the floor of the Nigerian Stock Exchange as at Tuesday.
