The Chairman of Vitafoam Nigeria Plc, Bamidele Makanjuola, has retired after 10 years of service, in line with the company’s tenure policy.
Makanjuola announced his retirement while addressing the company’s shareholders at its 61st Annual General Meeting recently in Lagos.
He expressed his gratitude to the company’s management, board, and shareholders for their support throughout the years.
He said the company had to deal with a number of issues, including a dramatic decrease in the value of the naira in comparison to other important currencies, a lack of foreign currency, excessive inflation, inadequate purchasing power, and low consumer disposable income, among others.
He noted that with the assistance of the shareholders, the board has shifted boundaries and cracked glass ceilings.