Chairperson of DAAR Communications Plc, Raymond Dokpesi Jnr, has addressed the recent management changes at the company, which saw the exit of several long-serving directors. He explained that the shake-up is part of a strategic alignment with regulatory standards and aimed at fostering the company’s future growth.
During an interview with journalists, Dokpesi Jnr stressed that the decision was not based on personal preferences.
“This wasn’t a personal choice. If it were up to me, I would have preferred to retain the experience, relationships, and skills of our management team for a bit longer,” he noted.
As a publicly listed company on the Nigerian Stock Exchange, DAAR Communications is bound by regulations from the Security and Exchange Commission (SEC) and corporate governance codes. These rules limit directors to two five-year terms. Dokpesi Jnr emphasized that the company’s obligations to shareholders go beyond individual opinions.
He further acknowledged that many departing directors had been with the company for over two decades, with some serving for as long as 27 years. “Their retirement is long overdue; these changes should have occurred five to seven years ago,” he said.
Dokpesi Jnr also reflected on the challenges the company faced under the previous administration, stating that the political climate during President Buhari’s tenure made such transitions difficult. “The treatment of AIT and our founder during that time was challenging, and it wasn’t the right moment to implement such changes,” he remarked.
With the political landscape now more favorable, Dokpesi Jnr believes the timing is ideal for a strategic reassessment. “Now is the right time for us to review our direction. We need to decide if we should continue on our current path or explore new opportunities,” he explained.
He emphasized that the reshuffle would reinforce compliance with regulatory requirements, helping to build investor confidence and positioning DAAR Communications for sustained growth. “Abiding by these laws and regulations will provide assurance to the investing public regarding the governance of our organization,” he said.
Dokpesi Jnr also assured that the changes would open up new opportunities both for current staff and external candidates. “There will be chances for internal staff to step into new roles, and we will also welcome contributions from qualified professionals outside the organization,” he concluded.
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