Exactly one month after Bruno Bayet resigned from his position as the Chief Financial Officer of Lafarge Africa Plc, the board of the building materials firm has announced the appointment of Lolu Alade Akinyemi as the new Chief Financial Officer.
The Details: In a notification issued by the company to the Nigerian Stock Exchange (NSE) and signed by Adewunmi Alode, the General Counsel and Company Secretary, the appointment is expected to be effective Friday 1 November 2019.
Recall that a previous Nairametrics report noted that after Bayet’s resignation, the company disclosed that it was seeking applications from external and internal sources to fill the post.
However, a make-shift arrangement was made for Marie Christiane Kaul-Meledje to assume an interim role as Chief Financial Officer until a replacement was found.
Worrisome trend of changes: Following the frequency of changes occurring on the Lafarge Board, one might wonder why the change never seems to end. In 2018 alone, the firm appointed four directors in the space of three months.
Last year, the firm provided an explanation for the constant Board reshuffling, blaming it on losses incurred by Lafarge Holcim’s operations in places like Nigeria, Algeria and Egypt. Lafarge hoped that the new executives brought in would try to rejuvenate the company’s declining profits.
About Lolu Alade Akinyemi: Mr Lolu Alade Akinyemi is a certified accountant and holds a Masters in Business Administration from the Edinburgh Business School, Scotland, UK, a BA (Hons) in Economics from Essex University, UK and a Project Management Certification, Prince2, UK.
He was the Financial Accountant (1996-1997) Assistant Budget and Planning Manager (1997-2000) at Coca-Cola Nigeria Limited. He was the Finance Manager (Group Office), Cocoa-Cola, Europe, Eurasia & Middle East Group, London (2001-2005), Finance Manager (Africa Group), Coca Cola Africa, Windsor, UK (2005-2007),Head of Business Development, Strategy, New Business (2007-2009) and Head of Supply Chain & Operations, Coca-Cola Bottling Company, Accra-Ghana (2009-2010).
Prior to joining Lafarge in 2014, he was the Finance Director at PZ Cussons Nigeria Plc from 2010 to 2014. He was appointed as the Finance Director of Lafarge Africa Plc from 2014 to 2016. Lolu has over 20 years of work experience in the manufacturing industry and he is currently the Supply Chain Director for Lafarge Africa Plc.