Raymond Dokpesi Jr., the chairman of DAAR Communications Plc, has stated that the recent reorganization of the company's management team, which included the departure of multiple long-serving directors, was a component of a larger plan to comply with legal requirements and secure the business's continued expansion.
Dokpesi Jr. started out by making it clear that the decision to split ways with the directors was not motivated by personal preference in a thorough discussion with journalists.
Asking someone to leave isn't a personal choice. If it were up to me, I would most definitely want to extend the use of our management's relationships, expertise, and skill sets.
"As an openly traded business on the Nigerian Stock Exchange, DAAR Communications is governed by the corporate governance code and the regulations established by the Security and Exchange Commission. Directors may only hold office for a maximum of two terms totaling five years, according these laws. "Our responsibilities to our shareholders transcend personal choices or opinions," Dokpesi Jr. underlined.
He mentioned that many of the members of the present management team had worked with DAAR Communications since its inception, some of them for as long as 27 years. In actuality, their retirement is long overdue. Five, six, or seven years ago is when this decision ought to have been taken, he said.
Dokpesi Jr. talked on how the political environment affected the timing of the adjustments as well. Thinking back on how the Buhari administration affected the company, he said, "In that time AIT and our founder were treated with difficulty. It might not have been the best decision to implement modifications at that time.
Given the improved political climate at the moment, Dokpesi Jr. thought it was the perfect moment for a strategic assessment of the company's course. "Now is the appropriate moment for us to assess our destination," he said. "We have to choose between staying on our current course and pursuing something different."
He emphasized that the goal of the shake-up was to guarantee adherence to legal and regulatory requirements, boosting investor trust and fostering the expansion of the business. Dokpesi Jr. clarified, "In order to inspire public confidence in our organization and its administration, we need to uphold existing laws and regulations."
Dokpesi Therefore, Jnr guaranteed that the adjustments would present chances for both current employees and outside applicants. He confirmed, "There will be chances for qualified individuals from outside the company and the industry to contribute, as well as for people already employed by DAAR Communications to grow into new roles."
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