Lafarge Africa has appointed Lolu Alade-Akinyemi as its new chief executive officer, to spearhead growth initiatives for the company.

In a statement, the company disclosed that Alade-Akinyemi emerged the managing director after its board of directors accepted the resignation of the former CEO, Khaled El-Dokani, in an emergency meeting.

“El-Dokani’s tenure as CEO will end by June, marking three years of leadership that were highlighted by a significant achievement guiding the cement maker to a twofold increase in annual profit in 2020, despite the challenges posed by Covid-19 lockdowns, the statement read in part.

Although the company did not disclose the reason for El-Dokani’s resignation, it stated that upon the conclusion of his tenure as CEO, he would assume a non-executive director position within Lafarge Africa.

“He effectively established and upheld robust ethical culture, fostered gender diversity, and championed sustainability principles, all of which align with the core values of the Holcim Group,” the statement said.

Alade-Akinyemi, who once served as a finance officer at the FMCG giant, PZ Cussons Nigeria, would replace El-Dokani on 1 July.

He has been part of Lafarge Africa’s top hierarchy since April 2020, initially as an executive director, later jointly holding that designation alongside the chief financial officer position.

His forte spans sales, supply chain management as well as business development.

“Lolu is a highly experienced business executive with a diverse international background and a track record of achievements in managing turnaround situations, optimising processes to enhance business performance, driving growth in demanding business landscapes, and overseeing Profit & Loss.

“With a geographically diverse background, he has gained extensive experience, particularly during his time at Coca-Cola, working across various markets including Belgium, Ghana, the UK, and Nigeria,” the firm noted.

He started his career at ExxonMobil after earning a bachelor’s degree in Economics from the University of Essex.

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