General News
DAAR Communications Clarifies Departure of Key Executives …says departure part of regulatory requirement
By Iyojo Ameh
Mr. Raymond Dokpesi Jnr, Chairperson of DAAR Communications, has clarified that the changes made at DAAR Communications are part of a strategic realignment aimed at meeting regulatory requirements and positioning the company for future growth.
The recent restructuring has led to the departure of several high-profile executives. According to a company memo, those leaving include Tony Akiotu, Oluwatosin Dokpesi, Ambrose Somide, Anthony Uyah, Paulyn Ugbodagha, and Mary Lawrence-Dokpesi.
This shake-up is intended to align DAAR Communications with industry regulations and support its long-term strategic objectives.
Additional executives affected by the change include Faith Ikems, Imoni Amarere, John Iwarue, and Johnson Onime.
In a statement, Mr. Dokpesi stressed that the decision was not based on personal preferences.
He clarified, “This isn’t a matter of personal choice. If it were, I would prefer to continue benefiting from the experience and expertise of our management team for a longer period.”
He further explained that, as a publicly traded company on the Nigerian Stock Exchange, DAAR Communications is obligated to adhere to regulations established by the Securities and Exchange Commission and the corporate governance code.
These guidelines limit directors to a maximum of two five-year terms, a rule that underpins the recent changes.
“Our duty to our shareholders goes beyond individual opinions or desires,” he added.
He also acknowledged that many of the retiring directors have been with the company since its inception, with some having served for up to 27 years.
According to him, their retirement had been anticipated for several years, stating, “This decision should have been implemented five, six, or even seven years ago.”