Renowned Nigerian business leader Ibukun Awosika has resigned from the Board of Directors of Cadbury Nigeria Plc, bringing to an end a long and impactful career with the company that spanned nearly two decades.
The company confirmed her resignation in an official notice filed with the Nigerian Exchange Limited (NGX), stating that the decision takes effect from Friday, May 1, 2026.
Awosika, who joined the board in October 2009, spent about 17 years contributing to the growth and direction of one of Nigeria’s leading consumer goods companies. During this time, she played a key role in guiding the company through both challenging and successful periods in Nigeria’s economic environment.
In its statement, Cadbury Nigeria said the board had considered and accepted her resignation, while also informing investors and the general public of the development.
Her exit marks the end of a significant chapter not only for the company but also for corporate leadership in Nigeria, where she is widely respected for her experience, professionalism, and strong voice in business and governance.
Over the years, Awosika has built a reputation as one of Nigeria’s most influential business figures. She is known for her work across different sectors and for promoting good corporate governance, entrepreneurship, and women’s leadership in business.
Her time at Cadbury Nigeria coincided with a period of major changes in the country’s economy, including shifts in consumer spending, foreign exchange challenges, and increased competition in the fast-moving consumer goods sector.
Despite these challenges, the company continued to maintain its position in the market, producing popular products and adapting to changing consumer needs. Industry observers say board members like Awosika played a crucial role in ensuring stability and long-term planning during uncertain times.
In recent months, Cadbury Nigeria has shown signs of strong performance in the stock market. Data from trading activities indicate that the company’s shares are currently trading at a 52-week high. As of the close of trading on Tuesday, April 28, 2026, the stock had risen by 22.70 percent this year to N73.50.
Awosika’s departure comes at a time when the company appears to be on a stable path, raising questions about who will fill her position and how the board will continue to drive growth in a competitive industry.
Cadbury Nigeria, a subsidiary of global confectionery company Mondelez International, is known for producing well-known products such as cocoa beverages, chocolates, and other consumer goods. The company has operated in Nigeria for decades and remains a key player in the food and beverage sector.
Awosika’s experience and leadership style have often been cited as valuable assets in navigating these challenges. Her ability to provide guidance during both growth periods and downturns has been widely acknowledged.
Beyond her role at Cadbury, Awosika has held several leadership positions in Nigeria and internationally. She previously served as the first female Chairperson of First Bank of Nigeria, one of the country’s oldest and most respected banks.
Her contributions to business and society have earned her recognition both locally and globally. She is often invited to speak on leadership, entrepreneurship, and economic development.
While the reason for her resignation from Cadbury Nigeria was not detailed in the company’s statement, such moves are not uncommon in corporate environments, where board members may step down after long periods of service or to take on new opportunities.
For shareholders and market watchers, the focus will now shift to how Cadbury Nigeria plans to maintain its current momentum and whether new appointments to the board will bring fresh ideas and strategies.
The company has not yet announced a replacement for Awosika, but it is expected that the board will take steps to ensure a smooth transition.
As Nigeria continues to strengthen its corporate governance standards, the role of experienced board members remains important in building investor confidence and supporting economic growth.
Awosika’s exit from Cadbury Nigeria marks the close of an important era, but her influence on the company and the wider business community is likely to be felt for years to come.