Bode Ojeniyi, Group Executive Director, SIFAX Group, made this known in a statement on Monday in Lagos.
Ojeniyi said that Afolabi would replace the company’s former Chairman, the late Olowu of Owu, Oba Adegboyega Dosunmu, who died on Dec. 12, 2021. He noted that Afolabi until the appointment was the Group’s Executive Vice Chairman.
“Afolabi’s appointment takes immediate effect.
“The appointment was a natural progression for Afolabi who has worked assiduously in the last 33 years to build and lead the company to become one of the leading conglomerates in Nigeria today.
“His choice was unanimous among the board members,” he said.
Ojeniyi noted that Afolabi had given all his resources – financial, goodwill, mental and social capital, among others to ensure the company continues to return impressive business growth and profitability year on year.
He added that the success story of the company cannot be divorced from his rigour, leadership, strategic thinking and foresight.
“Taking all these into account, the board found Afolabi worthy of this appointment for sustained entrepreneurial leadership and better service delivery to our clients as well as improved returns to all stakeholders,” he said.
While accepting the appointment, Afolabi said his immediate goal would be to drive the five-year strategic growth plan of the company to a logical conclusion.
“The company has without doubts, achieved so much, but there are still so much grounds to cover.
“Interestingly, my appointment coincides with the midway point of our five-year strategic growth plan designed to improve the profitability of our various businesses and expand to new territories both locally and internationally.
“We are already doing well with this growth plan and we will see if there is a need to recalibrate our approach and deliverables for an improved performance.
“I am confident that with the quality of human resources on the board as well as the cooperation of all our stakeholders, we will position SIFAX Group well for its next growth phase and achieve its mandate,” he said. (NAN)