Lagos, Nigeria; December 3, 2020.
Flour Mills of Nigeria Plc (referred to as “Flour Mills “or “FMN”), Nigeria’s leading integrated food business and Agro-allied group, owners of the iconic brand – ‘Golden Penny,’ today announced the appointment of Mr. Omoboyede Olusanya as its new Group Managing Director/Chief Executive Officer, effective 1st January 2021.
Mr. Olusanya who joined FMN in January 2020 as Group Chief Operating Officer has been a core member of the executive management team. He was admitted to the Board of Directors since July 2020 and will take over from Mr. Paul Gbededo, who is retiring after 38 years of meritorious service to the Group.
Omoboyede Oyebolanle Olusanya (Boye), is both an engineer and a computer scientist by training. He graduated with Honours from the University of Lagos, as an engineer and furthered his career at masters’ level at the Universities of Liverpool and Manchester, England where he obtained his M.Sc. Computer Science and M.Sc. Environmental Civil Engineering respectively. Boye has also attended several management programs at the Harvard, London and Lagos Business Schools.
He is a member of the Nigerian Society of Engineers (NSE), Council for the Regulation of Engineering in Nigeria (COREN), Institute of Directors (IOD) and Institute of Highway and Transportation, UK (IHT).
Boye, a success driven leader with strong business acumen and adept risk management skills, began his career over three decades ago as an Engineer with Ove Arup and Partners (a global design consultancy firm). Within this period, he has served in several progressive roles of increasing responsibilities across various industries including Structural Engineering, Information Technology, FMCG and Telecommunications.
Prior to his new appointment he has over the past two decades held several executive positions in various industries most recently as the Group Operating Partner at Helios Investment Partners (a global private equity firm), where he managed diverse investment portfolios. Chief Executive Officer of Emerging Markets Telecommunication Service Limited (formerly Etisalat), where he anchored the sale process for 9mobile which he saw to completion. Partner at GA Capital Ltd (2016), a consulting and advisory firm providing technical and financial advisory services to several privately-owned businesses and government parastatals. Chief Transformation Officer at Dangote Industries Limited. Managing Director of Dancom Technologies, Acting CEO, VEE Networks limited formerly ECONET Wireless where he successfully managed the transition of the company to a new brand.
Commenting on the appointment, Mr. John Coumantaros, Chairman of the Board, said:
“I am happy to welcome Boye Olusanya as our new GMD / CEO. The board is confident that he is the right person for the job. He is a seasoned professional and an exceptional business leader who will lead the group into the future as we continue to strengthen our brands and create value for investors and stakeholders.”
On his part, the outgoing GMD/CEO, Mr. Paul Gbededo, stated:
“I cannot deny that I will miss the rigorous strategy sessions with the board, the passion of the executive team, and of course the relentless inventive spirit of our people across various businesses locations in the country. Nevertheless, I must say that I am confident that it is time to hand over leadership to the next generation. I have worked closely with Boye Olusanya, and I am confident that with him at the helm of affairs, the group is on course to reach even greater heights.”
Reflecting on his appointment, Omoboyede Olusanya said:
“It is an absolute honour, and I am committed to carry the legacy of our great company forward as we continue to deliver on our brand’s golden promise of excellence. With the support of the board and my colleagues on the executive team, I can assure our customers, consumers and other stakeholders that we are poised for the next phase of growth and development.”
About Flour Mills of Nigeria Plc Incorporated in September 1960 and quoted on the Nigerian Stock Exchange since 1978, Flour Mills of Nigeria (FMN) Plc, owners of the iconic Golden Penny Food brand is one of Nigeria’s leading food and agro-allied companies. With a broad basket of food products and robust pan-
Nigerian production, distribution, and supply chain network, FMN is a fully integrated and diversified food and agro-allied group. FMN group strives in its purpose to “Feed the Nation, Everyday” through its five core food value chains: Grains, Sweeteners, Oils and Fats, Proteins, and Starches. FMN creates value along the entire food chain with its “farm-to-table” model by providing inputs and know-how to farmers, aggregating and sourcing crops and raw materials to supply its world-class processing facilities across Nigeria, and distributing its innovative food brands to its customers.
Lagos, Nigeria; December 3, 2020.