Cadbury Nigeria Plc has appointed Ayman Hussein Gaafar as its new Managing Director, marking a leadership transition as the company continues its financial recovery and growth strategy.
The appointment was disclosed in a statement signed by the Company Secretary, Afolasade Olowe, on Tuesday, May 12, 2026.
According to the company, Gaafar’s appointment will take effect from May 15, 2026, following approval by the Board of Directors on the recommendation of its Governance and Risk Committee.
“The Board has considered and approved the appointment of Mr. Ayman Hussein F. Gaafar as Managing Director of Cadbury Nigeria Plc with effect from 15th May 2026,” the statement said.
Cadbury Nigeria said the appointment had been communicated to the Nigerian Exchange Limited and the investing public, adding that the Board was confident in Gaafar’s ability to lead the company into its next phase of growth.
The company noted that the appointment forms part of ongoing efforts to strengthen leadership and support its long-term business strategy.
With the development, Folake Ogundipe will step down from her role as Interim Managing Director after leading the company since December 2025.
The Board commended Ogundipe for her stewardship during what it described as a critical transition period for the business.
Cadbury Nigeria said she demonstrated “exceptional leadership” throughout her tenure and praised her dedication, resilience, and commitment to preserving the company’s strategic direction.
The company added that her leadership helped stabilise operations during a challenging period and acknowledged her contributions to the firm’s recovery efforts.
Her tenure coincided with a period of operational restructuring and financial recovery for the company after successive losses in previous years.
Gaafar joins Cadbury Nigeria with extensive experience across multinational consumer goods companies, including Procter & Gamble, Reckitt Benckiser, Danone, and Shan Foods.
The company described him as an experienced business leader with expertise spanning general management, commercial leadership, and business transformation.
According to the statement, Gaafar has managed operations across Africa, the Middle East, the Levant, Saudi Arabia, the UAE, and Canada, with experience in revenue growth strategy, market expansion, and organisational transformation.
Cadbury Nigeria also highlighted his track record in building strategic partnerships, leading diverse teams, full profit-and-loss management, and go-to-market execution.
The company said his broad international experience positions him to drive Cadbury Nigeria’s next phase of growth.
Cadbury Nigeria returned to profitability in 2025 after recording losses in 2023 and 2024, reflecting a major turnaround for the consumer goods manufacturer.
The company’s unaudited full-year 2025 results showed that revenue grew by 31 per cent, supported by strong performance from key product brands.
Cadbury Nigeria posted a net profit of N12.1 billion in 2025, compared with a N22.2 billion loss recorded in 2024, while its gross profit margin improved from 14.1 per cent to 21.6 per cent.
Its net profit margin stood at 7.1 per cent, indicating further room for operational efficiency improvements as consumer goods companies continue to navigate inflationary pressures and shifting consumer demand.
Boluwatife Enome
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