Fidelis Ayebae steps down as CEO after growing Fidson into a 66 million pharmaceutical company since founding it in 1995.
The company seeks 20 million via rights issue to fund expansion, as shareholders approve share capital increase to 1 million.
Fidsons net profit surged nearly 4x to 3.97 million in the first half, driven by strong ethical drug sales and revenue growth.
Nigerian pharma mogul Fidelis Ayebae has stepped down as managing director and CEO of Fidson Healthcare Plcthe Lagos-based company he founded in 1995 and nurtured into a 66 million business over three decades.
His retirement took effect on Aug. 1, as confirmed in a regulatory filing on the Nigerian Exchange . The statement acknowledged Ayebaes pivotal role in building Fidson into a key player in Nigerias pharmaceutical sector over the past 30 years.
Adebayo steps in as CEOA leadership transition at the company is already underway. Abiola Adetunji Adebayo, a longtime executive director, will take over as managing director and CEO.
His appointment had previously been approved by the board, according to outgoing Chairman Segun Adebanji, who also announced his own retirement. This move confirms Fidson's robust succession planning and commitment to sustained growth, Adebanji said.
While the board is expected to name a new chairman at its next meeting, industry watchers are closely following developments, with many speculating that Ayebae may be nominated to take on that role, continuing his influence in a more strategic capacity.