BusinessDay

Flour Mills’ GMD retires, leaves solid backward integration legacy

Flour Mills of Nigeria Plc, a leading integrated food and agro- allied group, has announced the retirement of Paul Gbededo as its group managing director/chief executive officer, effective 31st December, 2020.

He is leaving a strong legacy of backward integration to his successor, with projects cutting across palm oil, sugar, and flour, among others.

Gbededo’s career with the FMN Group started at the Nigerian Bag Manufacturing Company (BAGCO) as a management trainee in 1982. Since then, he has taken up several managerial positions within the group, including the first Nigerian production director for BAGCO in 1996, the pioneer general manager/director in charge of fertilizer operations, the pioneer general manager/director for Golden Pasta Company Limited, and managing director, agro-allied business, with responsibility to implement FMN Group’s backward integration policies, programmes and initiatives.

On the 13th of March 2013, he was appointed a member of the board of directors and designate group managing director / CEO—A position he assumed fully on April 1, 2013.

Read also: Flour Mill records biggest daily gain after revenue jumped 31% in H1’20/21 fin year

John Coumantaros, chairman of the board, said, “Paul is a brilliant colleague and an exceptional leader who we will miss dearly. On behalf of the board, I must express our heartfelt thanks for his extraordinary contributions in leading our great company through a period of growth, expansion and profitability.

“After 38 years of meritorious service to the Group, he is leaving the business in an executive capacity at an excellent position for further growth and we wish him the very best as he takes on a new chapter in life, which I trust will include a well-earned rest and plenty of time with his beloved family.”

On his part, Gbededo stated: “It has truly been a great privilege and honour to have worked with some of the best minds in our country and indeed across the world. I am truly proud of our rich heritage, our winning culture and market capability that have, over the years, positioned us for continuous growth.

He said he would miss the rigorous strategy sessions with the board, the passion of the executive team and the relentless inventive spirit of the FMN family across various businesses locations in the country.

“Nevertheless, I must say that I am confident that it is time to hand over leadership to the next generation,” he noted.

Reacting to the changes, Boye Olusanya, GMD/CEO designate, said: “Paul, my mentor and friend, is an outstanding business leader and fine gentleman who has played his part well and did great things for our company. He has left behind some big shoes to fill and our company is, because of his strategic leadership, on a solid base to build from. I shall be counting on his advice to take our company to the next level.”

Upon retirement from the position of group managing director / CEO, the board has approved the appointment of Gbededo as the non-executive vice chairman of the board of directors of Flour Mills of Nigeria Plc.

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