Raymond Dokpesi Jnr, Chairperson of DAAR Communications Plc, has explained that the recent changes within the company’s management team, which led to the departure of several long-serving directors, are part of a broader strategy to align with regulatory requirements and secure the company’s future growth.
In a detailed discussion with journalists, Dokpesi Jnr clarified that the decision to let go of these directors was not based on personal preferences.
“If it were solely up to me, I would prefer to retain the experience, relationships, and skill sets of our management team for a bit longer. However, this isn’t a personal decision,” he stated.
As a publicly listed company on the Nigerian Stock Exchange, DAAR Communications must adhere to the regulations set by the Security and Exchange Commission and the code of corporate governance, which limit directors to two terms of five years each. Dokpesi Jnr emphasized the importance of these regulations, saying, “Our obligations to our shareholders go beyond individual choices or opinions.”
He acknowledged that many of the current management team members have been with DAAR Communications since its inception, with some serving for up to 27 years. “Their retirement is long overdue; this decision should have been made five, six, or even seven years ago,” he noted.
Dokpesi Jnr also addressed the political context that influenced the timing of these changes. Reflecting on the challenges faced during the Buhari administration, he remarked, “The treatment of AIT and our founder during that period was difficult. Implementing these changes then might not have been prudent.”
With the current political environment now more favorable, Dokpesi Jnr believes it is the right time for a strategic review of the company’s direction. “We need to assess whether to continue on our current path or to pursue a new direction,” he