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Osunkeye to Make Way for New Lafarge Africa Chairman

Lafarge Africa Plc has named a new chairman for the company pending the effective retirement of Chief Olusegun Osunkeye, on May 23rd 2015.

From the conclusion of the 2015 Annual General Meeting, Lafarge announced that Osunkeye will retire voluntarily as Chairman of the Board of Directors of Lafarge Africa Plc, having served as a Director for fourteen years, five out of which he was Chairman.

“The Board of Lafarge Africa is pleased to announce that Mr. Mobolaji Balogun will succeed Chief Osunkeye as Chairman effective. Mobolaji Balogun, a Nonexecutive Director of the Company is also Chairman of the Board Finance and Strategic Planning Committee and a Member of the Audit Committee,” the company said in an official statement.

Mr. Balogun is the Chief Executive Officer of Chapel Hill Denham, prominent independent investment bank in Nigeria and a Director of Lafarge Africa Plc and NAHCO Aviance Plc.

He was appointed to the Johannesburg Stock Exchange, Africa Advisory Board in September 2009. Mr. Balogun is the immediate past Chairman of the Association of Issuing Houses of Nigeria, the investment banks’ trade group. He was a member of the Committee that drafted the first Nigerian Code of Corporate Governance.

Commenting, Chief Osunkeye, said, ‘I am delighted that the Board has appointed Mobolaji Balogun to succeed me as Chairman. He has a breadth of experience across Finance, Strategy and Management and is very familiar with Lafarge’s business in Nigeria and Africa and I am sure he is the right person to chair the Board going forward, after the 2015 AGM.

“We have made considerable progress to create a stronger and more diversified building materials company but there is still work to be done. Bolaji is very well equipped to lead Lafarge Africa Plc through the next stage of its growth. His experience and expertise will be invaluable and I wish him every success in the future.”

Mr. Guillaume Roux, Lafarge Africa’s Group Managing Director said that ‘the Company had set out clear strategies to create the number one building materials business in Africa for customer solutions, innovation, and trust and shareholder value creation. “I look forward to working closely with Mobolaji Balogun as the new Chairman of the Board effective May 23rd 2015 to deliver on the strategy.”

In his response, Balogun commented “I am deeply honoured to be appointed Chairman of this great Company and to have the privilege to succeed Chief Osunkeye.

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Ihesiulo Grace

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