Governance
The Board
The Board is responsible for supervising and advising our Management Team and overseeing the general course of affairs, strategy, operational performance and corporate governance of the Company.
Key Design Principles
Lean/optimal the structure that drives efficiency
Aligns with the strategic objectives of the company.
Provides the required oversight functions, in line with regulatory requirements/ leading practices
Promotes the alignment of interests of all shareholders
Promotes accountability, with an inbuilt system of checks and balances
Aligns with similar retail supermarkets in Nigeria
Committees
Audit and Risk Committee (BARC)
Governance Committee (BGC)
Strategy and Finance Committee (BSFC)
Key Considerations
Consistency with leading governance practices and corporate governance requirements of NCCG 2018, SEC corporate governance guidelines and CAMA 2020.
Minimum of 5 (five) Board members.
Inclusion of a clear majority of NEDs on the Board.
Inclusion of at least two (2) INEDs to provide unbiased views on matters deliberated by the Board.
Membership of the committees is to be limited to Directors on the Board.
Exclusion of the Board Chairman as a member of any Committee.
Each Director should be in a maximum of two (2) Board Committees
Audit & Risk and Governance Committees to comprise only NEDs and be chaired by an INED.
At least one NED who will be in both the Audit & Risk and Strategy & Finance Committees
Board of Directors
Tayo Amusan
Chairman
Hubertus Rick
Chief Executive Officer
Kyari Bukar
Director
Jide Ogundare
Director
Adetunji Oduntan
Director
Leonard Kange
Director
Temitayo Etomi
Director
Fola Laoye
Director
Operational Management
Hubertus Rick
Chief Executive Officer
Folakemi Fadahunsi
Chief Finance Officer
Andrew Mweemba
Chief Operating Officer
Bunmi Adeleye
Chief Strategy Officer
Francis Odukuye
Chief Technology Officer
Olushola Laraiyetan
Head, Legal & Compliance
Babatunde Ahmadu
Head, Category Management
Oluwafemi Biobaku
Head, Human Resources
Renaldo Ferreira
Trading Manager
Isaac Arokoyo
Risk & Compliance Manager
Uduak Okon
Head, Store Planning & Development
Olowoyo Joseph
Internal Audit Manager
Meetings of the Board
The Board holds frequent meetings all year round. Attending these meetings is the Management Board. These meetings are occasionally attended by the other Executive Committee members. Additionally, invitations to these sessions are frequently extended to senior management. The Board also has a number of secret meetings with no other participants to assess certain topics separately and to talk about issues pertaining to how the Operational Management and Boards operate.
Meeting Attendance
Based on the total number of meetings held each year, the Board maintains a minimum attendance requirement of 80%.