Barely 25 months on the job, Cadbury Nigeria Plc’s managing director, Mr. Roy Naaman is resigning by the end of this month as the food and beverages giant continues to struggle with low sales and declining profitability.
Mondelēz International, a global snacks powerhouse that holds 74.97 per cent equity stake in Cadbury Nigeria has drafted the director of the innovation kids wholesome segment of its global biscuits business based in East Hanover, United States of America, Mr. Muhammad Amir Shamsi, to take over the leadership of the Nigerian subsidiary.
Naaman’s resignation takes effect on January 31, 2017 while Shamsi resumes on February 1, 2017, according to regulatory filing announcing the leadership change.
Mondelēz International had hoped that Naaman, who joined the group on January 1, 2015, would help to stimulate performance and drive its businesses in the West African region. “In Roy, we are very pleased to gain a highly experienced leader, with a strong track record in driving sustained and profitable growth. In his previous role, Roy was instrumental in spurring business expansion in southern Africa and the Caucasus. He is a most valuable addition to our company,” Romeo Lacerda, President, Markets, Eastern Europe, Middle East and Africa, Mondelēz International, said in a company statement.
Naaman joined Mondelēz International from the Diplomat Group, a global distribution company representing leading brands. With a Bachelor of Arts in business, majoring in finance, Naaman has held a number of positions in the Diplomat Group in several countries, including Georgia, and most recently as a General Manager of its largest market.
Cadbury Nigeria slipped into loss in the third quarter 2016, raising concerns over the worsening impact of sluggish sales and rising costs of operations. Turnover stood at N21.33 billion by third quarter 2016 as against N21.07 billion in third quarter 2015. The company however recorded a loss of N842.16 million in third quarter 2016 as against a modest pre-tax profit of N40.79 million in comparable quarter of 2015.
Sources close to the company said Mondelēz International is falling back on Mr Shamsi, who has been with the group for nearly a decade, to help drive critical performance measures that could see Cadbury Nigeria regaining its declining market share.
Shamsi is an experienced hand in West Africa. He was the group’s marketing director for West Africa between October 2013 and March 2016. He had earlier served as head of new categories and Gum and Candy in West Africa between September 2012 and September 2013. He joined Mondelēz International in June 2009.
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