Lafarge Africa Plc Announces Resignation of CEO Khaled El-Dokani, Welcomes Lolu Alade-Akinyemi as Successor

Lafarge Africa Plc, one of Nigeria’s leading cement manufacturing companies, is undergoing a significant leadership transition as it bids farewell to its Chief Executive Officer, Khaled El-Dokani, and welcomes Lolu Alade-Akinyemi as his successor.

In an official statement released yesterday, Lafarge Africa Plc informed shareholders and the investing public about the resignation of Mr. Khaled El-Dokani as the Group Managing Director/Chief Executive Officer (GMD/CEO), effective from June 30, 2023.

Mr. El-Dokani joined the board of the company as an Executive Director on January 18, 2020, and his tenure was marked by exceptional leadership during challenging times.

Under Mr. El-Dokani’s guidance, Lafarge Africa Plc successfully navigated the unprecedented challenges posed by the COVID-19 pandemic, achieving remarkable financial performance year after year.

He implemented a comprehensive turnaround plan that addressed the company’s industrial, financial, and human resource challenges, earning accolades for his strategic decision-making.

Although stepping down as GMD/CEO, Mr. El-Dokani will continue to contribute to the company as a Non-Executive Director, leveraging his extensive experience and expertise to support the future growth and success of Lafarge Africa Plc.

Mr. Lolu Alade-Akinyemi Appointed as the New Group Managing Director/CEO

Simultaneously, Lafarge Africa Plc announced the appointment of Mr. Lolu Alade-Akinyemi as the new Group Managing Director/CEO, effective from July 1, 2023. Mr. Alade-Akinyemi brings a wealth of experience and a proven track record in various leadership roles within the company.

He previously served as the Chief Financial Officer (CFO) and the supply chain director of Lafarge Africa Plc, joining the board as an Executive Director on April 8, 2020.

With over 20 years of cross-functional experience in finance, supply chain management, business development, and sales, Mr. Alade-Akinyemi has demonstrated his ability to drive growth and improve business performance.

His achievements in turnaround situations, coupled with his extensive international exposure gained through working in the UK, Belgium, Ghana, and Nigeria, make him well-suited to lead Lafarge Africa Plc in its next phase of growth and expansion.

Mr. Alade-Akinyemi’s impressive professional background includes his tenure as Finance Director at PZ Cussons Nigeria Plc for four years, as well as a 16-year career at The Coca-Cola Company, where he held roles of increasing responsibility in finance, business development, supply chain, and sales.

He began his career as a trainee at ExxonMobil before carving his path as a seasoned business executive.

The board of Lafarge Africa Plc expressed their gratitude to Mr. Khaled El-Dokani for his dedicated service and exceptional leadership during his tenure as GMD/CEO. They acknowledged his significant contributions, which propelled the company’s success even in the face of challenging circumstances.

Meanwhile, the board extended their warmest congratulations to Mr. Lolu Alade-Akinyemi on his appointment as the new Group Managing Director/CEO. They expressed confidence in his ability to build upon the company’s achievements and drive Lafarge Africa Plc towards greater heights.