Chairperson of DAAR Communications Plc, Raymond Dokpesi Jnr, has said the recent shake-up in the management team of the company, which has seen the departure of several long-serving directors, was part of a broader strategy to align with regulatory requirements and ensure the companys future growth.
In an interview with newsmen yesterday, Dokpesi Jnr. clarified that the decision to part ways with the directors was not driven by personal preference.
He emphasised that, It isnt a personal decision to ask anyone to go. If it were up to me, I would definitely want to harness the experiences, relationships, and skill sets of our management for a little bit longer.
As a publicly listed company on the Nigerian Stock Exchange, DAAR Communications is subject to the rules set by the Security and Exchange Commission (SEC), and the code of corporate governance. These regulations mandate that directors serve no more than two terms of five years”, adding that, Our responsibilities to our shareholders transcend personal choices or opinions.
He noted that many of the current management team members have been with DAAR Communications since its early days, with some serving for up to 27 years. According to him, Their retirement is, in fact, long overdue. This decision should have been made five, six, or seven years ago.
Dokpesi Jnr also addressed the political context influencing the timing of the changes. Reflecting on the Buhari administrations impact on the organisation, he noted, During that period, the treatment of AIT and our founder was difficult. Implementing changes at that time might not have been the best idea.
With the current political environment now more favourable, Dokpesi Jnr believed that it was an ideal time for a strategic review of the companys direction. The time is right for us to review where we want to go, he remarked. We must decide whether to continue on our existing trajectory or to pursue something different, he stated
He highlighted that the shake-up aimed to ensure compliance with legal and regulatory standards, thereby instilling confidence in investors and supporting the companys growth. We need to abide by existing laws and regulations to give the investing public confidence in our organization and its administration, he further explained.
Dokpesi Jnr, therefore, assured that the changes would create opportunities for both existing staff and external candidates. “Opportunities will open up for people within DAAR Communications to advance into new roles, as well as for qualified individuals from outside the organisation and the broader industry to contribute, he affirmed.
