Ibukun Awosika Resigns from Cadbury Nigeria Board After Two Decades
Prominent business figure Ibukun Awosika has stepped down from her position on the board of directors at Cadbury Nigeria Limited, concluding nearly 20 years of dedicated service. Her leadership tenure began in October 2009, a period during which the company navigated pivotal transformations amidst a dynamic Nigerian corporate environment.
Cadbury’s Share Performance at a Record High
As of April 28, Cadbury Nigeria’s share price has reached a 52-week high, trading at N73.50—a notable 22.70% increase year-to-date. This performance underscores the company’s resilience and strategic repositioning in the consumer goods sector.
Official Notice of Resignation
In an official announcement to the Nigerian Exchange Limited and stakeholders, Cadbury confirmed the acceptance of Awosika’s resignation, effective May 1, 2026. The company expressed appreciation for her invaluable contributions during her long-standing tenure on the board.
Substantial Financial Recovery for Cadbury
According to its recent unaudited financial results, Cadbury Nigeria reported a remarkable turnaround with a profit before tax of N17.27 billion for the fiscal year 2025. This represents an impressive 161% recovery from a loss of N28.33 billion reported in 2024.
Growth in Revenue and Earnings
For the same period, Cadbury’s gross profit soared by 101%, climbing from N18.23 billion to N36.6 billion. The company achieved a net profit of N12.09 billion, a substantial rebound from a loss of N22.22 billion the previous year. Sales increased by 31%, rising from N129.17 billion in 2024 to N169.84 billion in 2025, leading to a remarkable 154% rise in basic earnings per share to 530 kobo.
Appreciation for Awosika’s Leadership
The board expressed profound gratitude for Awosika’s contributions since her appointment, highlighting her commitment to ethical governance and the promotion of women’s representation within corporate structures. Cadbury recently earned recognition as one of the few female-led boards in the Nigerian manufacturing sector.
Transition to Global Advisory Role
As she moves into a global advisory position with a focus on entrepreneurship, Awosika’s departure marks the end of a significant chapter for Cadbury Nigeria. Her efforts have left an enduring impact on the company’s strategic direction, ensuring a legacy of innovation and governance that will resonate in the years to come.
