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Presco Plc has announced a change in the composition of its board with the appointment of Adewale Arikawe as a non-executive director, effective from 2 January.
In a notice to the Nigerian Exchange Limited (NGX) signed by its secretary, Frederick Ichekwai on Monday, the palm oil producer said Mr Arikawe was appointed to fill a casual vacancy on the board and will serve until the company’s next annual general meeting.
He replaced Felix Nwabuko, who retired after several years on the board. The company said Mr Nwabuko made significant contributions to Presco and its parent company, SIAT NV, and thanked him for his years of service and leadership.
Presco also disclosed that Mr Arikawe had been appointed Group Chief Executive Officer of SIAT, with oversight responsibility for all its subsidiaries. These include Presco Plc, SIAT Nigeria Limited and Ghana Oil Palm Development Company Limited.
The company said Mr Arikawe would work with existing leadership teams across the group to strengthen execution, accelerate strategic growth and promote a high-performance culture.
His focus would include developing leadership capacity, empowering teams and delivering sustainable results.
Mr Arikawe has more than 26 years of experience in general management, commercial strategy, sales and brand management.
He previously held senior leadership roles at Royal FrieslandCampina, overseeing operations across sub-Saharan Africa, and at FrieslandCampina WAMCO Nigeria.
He also worked at Nestlé Nigeria Plc, where he managed multi-channel sales operations and contributed to key growth initiatives.
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Mr Arikawe holds an MBA from the University of Chichester and has completed executive education programmes at London Business School and IMD in Lausanne, Switzerland.
The board said it welcomed Mr Arikawe’s appointment and reiterated its appreciation to Mr Nwabuko for what it described as his enduring legacy.
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