Lafarge Africa Plc has appointed Lolu Alade-Akinyemi as the group managing director and chief Executive Officer (GMD/CEO) of the company.
The appointment takes effect from July 1, 2023.
The company, in a statement issued by Adewunmi Alode, general counsel and company Secretary on the order of the Board of Lafarge Africa, officially notified the Nigerian Exchange Limited and the investing public of the changes to the Management of the Company.
Alade-Akinyemi’s appointment followed the resignation of Khaled El-Dokani as the GMD/CEO of the Company with effect from 30th June, 2023.
The statement said El-Dokani was appointed to the Board of the Company on the 18th of January 2020 as an executive director and that by virtue of his exemplary and outstanding leadership, he successfully led and navigated the Company through the challenges of COVID-19 pandemic, recording unprecedented financial performance consistently year-on-year in spite of the challenging business environment.
The company added that he implemented a turnaround plan for the business thereby addressing the industrial, financial and human resource challenges of the Company.
“He successfully entrenched and upheld a strong ethical culture, gender diversity and sustainability principles, which are part of Holcim Group’s core values.
“With effect from his resignation as GMD/CEO, Mr. Khaled El-Dokani will cease to be an Executive Director of the Company, but will continue to serve on the Board, as a Non-Executive Director. On behalf of the Board, we thank Mr. Khaled El-Dokani for his service and commitment over the last three years as GMD/CEO of Lafarge Africa Plc,” the statement said.
However, the new GMD/CEO, Alade-Akinyemi, Prior to this appointment, was the Chief Financial Officer (CFO) and the supply chain director of the Company.
He was appointed an executive director to the board on the 8th of April 2020. Lolu Alade-Akinyemi has over 20 years cross-functional experience in finance, supply chain, business development, and sales.
Lolu is a seasoned business executive with multifaceted international experience and accomplishments in turnaround situations, transforming processes to improve business performance, fostering growth in challenging business environments, and Profit & Loss oversight.
Prior to joining Lafarge in 2014, he was Finance Director, PZ Cussons Nigeria Plc for 4 years and he was at the Coca-Cola Company for 16 years where he worked in the UK, Belgium, Ghana and Nigeria taking increased responsibilities in finance, business development, supply chain and sales.
He started his career as a trainee at ExxonMobil. Alade-Akinyemi is a certified accountant and holds a Bachelor’s degree in Economics from the University of Essex, and an MBA from the Edinburgh Business School, UK.