Wednesday, 3 June 2015

MADAM NESTLE MAY RETIRE VERY SOON BY OLADUNNI KOSOKO



MADAM NESTLE MAY RETIRE VERY SOON
BY OLADUNNI KOSOKO

MRS IQUO UKOH RELAXES AT HOME RECENTLY
It has not been officially confirmed or stated by the management and Board of Nestle Nigeria Plc,but after 34 years in the services of humanity through at the multinational corporation ,Paedia Express Multimedia can exclusively reveal that ,Mrs Iquo Ukoh, Executive Director, Marketing Services  may soon go into retirement.
A lot of watchers of developments in the corporate sector in Nigeria will tell you straight away that Mrs Iquo  Ukoh is the unofficial face of branding or the first lady of business if there is anything like that, using Maggi as a tripod.
How she has not ended up as the Chief Executive Officer of the firm she has worked so hard to position as a major force is a mystery only the authorities of the company in Vevey, Switzerland can explain.
At the moment notwithstanding the presence and contributions  of such glorious names like Mrs Funke Osibodu,Vukor-Quarshie,Faith Tuedor Mattews,Mrs Babington-Ashaye,Mrs Iquo Ukoh is the most powerful woman in corporate business in Nigeria.
Mrs Ukoh is known to billions around the world on account of her preaching the Nestle with the” Maggi Shokoyokoto” fame.
Ukoh is fond of telling every married woman in her television program me titled” Maggi kitchen “that whoever cooks a  good soup with magi will readily keep her man or husband.
It is not known when a formal announcement regarding  her disengagement from the company will be made but it is expected that she will continue to serve on the Board of Directors of the company where she has made a lot of valuable contributions over the years.
The News office Desk of Paedia Express Multimedia gathers Mrs Iquo Ukoh is actually one of the powers behind the throne at Nestle Nigeria Plc where she has an equity of about 377777.5percent ordinary shares in her name thus making her the second most powerful corporate captain in the company behind the Chairman ,Mr David Ifezulike .
It is not immediately clear whether Mr Ifezulike shares of 76.25 percent which got reduced to 56.25 percent in 2014 is been held in trust for another board room titan, Chief Olusegun Oshunkeye who has moved on or whether the latter sold his equity altogether in the firm.
It  will appear that Mr Darnesh Gordhon,the South African born Chief Executive Officer of the firm is holding his portfolio due to some boardroom maneuverings from Europe rather than the reality on the ground at the Ilupeju,Lagos office of the beverage power house.
Mrs Ukoh is the Marketing Services Director in charge of management of creating shared value projects:creative /media/research agency coordination, media buying and experiential marketing.
She was appointed a director of the company on the 19th of February,2010 and holds a Bachelor of Science Degree in Nutrition and Dietetics. She joined Nestle Nigeria Plc in 1981as a medical delegate has held several key positions in the company such as Senior Product Manager, Group Product Manager, and Marketing Manager in the marketing Division of the company.
Ifezulike spent 26 years with the Nestle Group before going into retirement and this has further fuelled suggestions that Mrs Ukoh may soon leave after 34 years of service and with no position to aspire for in the firm aside from that of the CEO.
In a related issue, Mr David Ifezulike in his address during its recently held annual general meeting said as a global brand, the company will continue to address critical  issues that challenges the world like food security, nutrition, health, water, sustainability and human rights.
He assured that as a part of the firm’s commitment towards achieving the aforementioned noble goals, it regularly meets with the academia,civil society groups among other stakeholders.
He noted that the company was elated to the fact that due to the daily consumption of its products and brands it was hugely connected to the consuming public.
He revealed that the beverage icon which has reached an stage in the construction work on going at the Nestle Waters Plant in Abaji in the Federal Capital Territory,will officially commission the new plant in the last quarter of 2015.
The new N4.6Billion plant which holds a 14.13 hectares of land is expected to    make the company a leading hydration producing outfit in Nigeria.
The company’s turnover in year 2014 was N143.3Billion ,in the year 2014 the firms profit before tax was N24.4Billion and profit after tax was N22.2Billion.
The blue chip made an investment of around N7Billion in 2014 thus increasing its investments to N77Billion in six years due to the  development of its mammoth facilities at Agbara and Flowergate both in Ogun state, Nigeria’s new industrial hub.
There was an upsurge of share price at Nestle Nigeria Plc in terms of market capitalization from N700 to N1.011  in 2014,Nestle Nigeria Plc had well over 14,000 mouth feeding from its purse ,with the company
Insisting it employed at least 2,294 people in 2014 alone.
Nestle S.A., the ultimate holding group of Nestle Nigeria Plc operates an equity incentive scheme ,performance stock unit plan for its management employees whereby it awards shares to deserving employees.
The grant date fair value of share based payment awards granted to employees is recognized as an employee expense, with a corresponding increase in equity as a capital contribution from Nestle S.A. over the period that  the employees unconditionally becomes entitled to the awards.
It is not known if Mrs Iquo Ukoh will keep her shares permanently if she retires from the Board of Directors of the company any moment from now.

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