Ibukun Awosika Resigns from Cadbury Nigeria Board After 15 Years

Key facts

• Ibukun Awosika resigned as director of Cadbury Nigeria Plc, effective May 1, 2026.
• She served on the board since October 2009, over 15 years.
• The resignation was announced in a notice to the Nigerian Exchange Limited on April 29, 2026.
• The notice was signed by Company Secretary Afolasade Olowe.
• Cadbury Nigeria is a subsidiary of Mondelez International.
• Awosika is former Chairman of First Bank of Nigeria Limited and founder of The Chair Centre Group.
• A replacement for Awosika will be announced in due course.

A 15-Year Board Tenure Ends

Ibukun Awosika, one of Nigeria’s most prominent business leaders, has resigned from the board of Cadbury Nigeria Plc, ending a tenure that spanned more than 15 years. The company disclosed the development in a formal notification to the Nigerian Exchange Limited and the investing public on Wednesday, April 29, 2026. The resignation takes effect on Friday, May 1, 2026. The board has accepted her decision and expressed gratitude for her contributions, stating: “The Board expresses its deep appreciation to Mrs. Awosika for her valued contribution since his appointment in October 2009.” A minor clerical error in the pronoun did not obscure the board’s recognition of her impact.

A Director Who Shaped Strategy Through Turbulent Times

Awosika joined the Cadbury Nigeria board in October 2009, a period that saw the company navigate significant shifts in Nigeria’s consumer goods sector. Her tenure coincided with operational transformations within Cadbury Nigeria, which operates as a member of the Mondelez International family of companies. She played a key role in shaping the strategic direction of the company, according to the board’s statement. Her departure marks the end of a chapter in the company’s corporate governance history.

From First Bank Chair to Boardroom Stalwart

Beyond Cadbury, Awosika is widely known as the former Chairman of First Bank of Nigeria Limited, one of the country’s largest lenders, and as the founder of The Chair Centre Group, a business services firm. Her career has made her a respected figure in Nigerian corporate circles. Her resignation from Cadbury Nigeria comes as she steps away from another long-standing directorship, though she remains active in other business ventures.

Company Confirms Succession Process Underway

Cadbury Nigeria Plc, headquartered on Lateef Jakande Road in Agidingbi, Ikeja, Lagos, has indicated that steps are already being taken to ensure continuity. “Mrs. Awosika's replacement on the Board of the Company will be announced in due course,” the notice added. The company did not provide a timeline for the appointment but suggested the process is ongoing. The announcement was signed by Company Secretary Afolasade Olowe.

A Legacy of Board Service in Nigeria’s Food Sector

Cadbury Nigeria is one of the country’s leading food and beverage manufacturers, producing brands such as Bournvita and Tom Tom. Awosika’s long service on its board reflects the stability often sought by multinational subsidiaries in Nigeria. Her departure comes at a time when corporate governance and board composition are under increased scrutiny in Nigeria’s capital markets. The Nigerian Exchange Limited requires listed companies to maintain a diverse and effective board.

What Comes Next for Cadbury Nigeria’s Board

With Awosika’s exit, the board will need to fill a vacancy that reduces its current membership. The company has not disclosed whether the replacement will come from inside or outside the organization. Investors and analysts will watch for the announcement of a successor, which could signal the board’s future strategic priorities. The resignation is effective May 1, meaning the board will operate with one fewer director until a replacement is named.

The bottom line

• Ibukun Awosika resigned as director of Cadbury Nigeria Plc after over 15 years on the board.
• Her resignation is effective May 1, 2026, and was announced on April 29, 2026.
• The board thanked her for her contributions and will announce a replacement in due course.
• Awosika is a former Chairman of First Bank of Nigeria and founder of The Chair Centre Group.
• Cadbury Nigeria is a subsidiary of Mondelez International, headquartered in Lagos.