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| Some of the board members. |
The Chairman of Daar Communications Plc, owners of AIT, Raypower FM and Faji FM, Raymond Dokpesi Jnr has relieved some members of the board of the communication outfit who had been due for retirement from the board and refused to go because his father, High Chief Raymond Dokpesi was alive and in charge.
The shake-up, Raymond Jnr say should have happened 5, 6, 7 or more years ago and according to him, “If left to me, I would definitely want to harness the experiences, the relationships and the skills that the existing management has for a little bit longer, but as reality stairs us in the face, that Daar is a publicly listed company "but some of them had to go so as to comply with laid down rules and regulations of the industry.
Those affected in the shake-up are, 10 Directors, which included the wife of High Chief Raymond Dokpesi and his stepmother, Mrs. Tosin Dokpesi, Tony Akiotu, Ambrose Somide, Anthony Uyah, Paulyn Ugbodaga, Mary Lawrence-Dokpesi, Faith Ikems, Imoni Amarere, John Iwarue and Johnson Onime.
Ray Dokpesi Jnr explained in an interview with the Daily Sun that, “I think the first thing to recognize is that it is not a personal decision to ask anyone to go. “We are the only publicly listed media company on the Nigerian Stock Exchange and that means we are also bound by the Securities and Exchange Commission rules and the code of corporate governance is mandatory for all publicly listed companies.
“So, that means our responsibilities to our shareholders transcend personal choices or personal opinions as “We have persons who are leaving the organization after 27 years; we have people who are leaving after 22 years. “The vast majority of this time, they have spent in executive management positions and yet, the code of corporate governance and our internal documents state we should only do a maximum of two terms of five years.
“So, their retirement is, in fact, long overdue.
“It was a decision which ought to have been made, even as far back as five, six, seven years ago, but as at that time, my dad was still alive, very present and very active and also, we were going through different political turbulence as far as our organization is concerned.
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