Cadbury Nigeria Approves Director Appointments, ₦22.7m Remuneration at 60th AGM

Cadbury Nigeria Plc has concluded its 60th Annual General Meeting (AGM), where shareholders approved key resolutions relating to board appointments, audit committee elections and director remuneration for the 2025 financial year.

The AGM was held on Tuesday, June 24, 2025, at the Grand Banquet Hall, Civic Centre, Victoria Island, Lagos.

The meeting saw the formal approval of Mr. Abhiroop Chuckarbutty as a Non-Executive Director, alongside the re-election of Mr. Adedotun Sulaiman and Mr. Sunil Parthasarathy to the company’s board.

These appointments were ratified by shareholders under the ordinary business section of the meeting agenda.

Shareholders also authorised the board to fix the remuneration of the external auditors, PricewaterhouseCoopers (PwC), who have expressed willingness to continue as the company’s auditors until the next AGM.

In compliance with corporate governance standards, three shareholder representatives—Pastor Lanre Awobode, Mrs. Mary Shofolahan, and Mrs. Elizabeth Gbegbaje—were elected to the company’s Statutory Audit Committee.

Two board representatives, Mr. Sunil Parthasarathy and Mrs. Kofo Akinkugbe, were also nominated to serve on the committee for the 2025 financial year ending December 31.

Under special business, shareholders renewed a general mandate authorising the company to enter into recurrent related party transactions necessary for day-to-day operations. These transactions include the procurement of goods and services under normal commercial terms in line with the Nigerian Exchange Limited (NGX) Rules governing interested party transactions.

The board was granted the authority to execute all necessary acts and documents required to give effect to the related party transaction mandate.

In addition, shareholders approved a resolution fixing the remuneration of Non-Executive Directors at ₦22.7 million for the year ending December 31, 2025, with the amount also applicable in subsequent years unless otherwise reviewed.

The resolutions are aligned with Cadbury Nigeria’s governance and operational structure as part of its commitment to regulatory compliance and shareholder engagement.

Cadbury Nigeria, a subsidiary of Mondelēz International, remains a key player in the Nigerian fast-moving consumer goods (FMCG) sector with notable product lines across confectionery, beverages, and food categories.