Cadbury Nigeria appoints Ayman Gaafar as new Managing Director
By Aboki Forex —
Cadbury Nigeria Plc has named Ayman Hussein Gaafar as its new Managing Director. The appointment takes effect from May 15, 2026, following approval by the Board of Directors.
The company disclosed this in a statement signed by Company Secretary Afolasade Olowe on Tuesday, May 12, 2026. Gaafar replaces Mrs. Folake Ogundipe, who has served as Interim Managing Director since December 2025.
Board approves new leadership
According to the statement, the appointment followed a recommendation from the Board's Governance and Risk Committee. “The Board has considered and approved the appointment of Mr. Ayman Hussein F. Gaafar as Managing Director of Cadbury Nigeria Plc with effect from 15th May 2026,” the statement read.
Cadbury Nigeria said the appointment was communicated to the Nigerian Exchange Limited and the investing public. The Board expressed confidence in Gaafar’s ability to lead the company and wished him success in his new role.
The company noted that the appointment is part of its efforts to strengthen leadership and support long-term growth strategy.
Ogundipe steps down after critical transition
Mrs. Folake Ogundipe will officially step down from her role as Interim Managing Director. The company commended her leadership during a critical transition period for the business.
Cadbury Nigeria said she demonstrated exceptional leadership, dedication, resilience, and commitment to preserving strategic direction. Her tenure coincided with a period of operational restructuring and financial recovery.
Gaafar brings deep consumer goods experience
Gaafar joins Cadbury Nigeria with extensive experience across multinational consumer goods companies, including Procter & Gamble, Reckitt Benckiser, Danone, and Shan Foods.
The company described him as an experienced business leader with expertise in general management, commercial leadership, and business transformation. He has managed operations across Africa, the Middle East, the Levant, Saudi Arabia, UAE, and Canada.
His experience covers revenue growth strategy, market expansion, organizational transformation, and building strategic partnerships. Cadbury Nigeria said his expertise in full profit-and-loss management and go-to-market execution positions him to drive the company’s next phase of growth.
Cadbury returns to profitability in 2025
Cadbury Nigeria returned to profitability in 2025 after recording losses in 2023 and 2024. Unaudited full-year 2025 results showed significant improvement in revenue and earnings performance.
Revenue grew by 31% in 2025, supported by strong performance from key product brands. The company posted a net profit of N12.1 billion after recording a N22.2 billion loss in 2024.
Gross profit margin improved from 14.1% in 2024 to 21.6% in 2025. Net profit margin stood at 7.1%, indicating room for further efficiency improvements.
The recovery marks a major turnaround for Cadbury Nigeria as consumer goods companies continue to navigate inflationary pressures and changing consumer demand.