The Chairman of the board of directors of consumer goods, Nestle Plc, David Ifezulike, has announced his retirement from the company and revealed his successor.

Ifezulike said that he will be succeeded by Gbenga Oyebode, who is an independent non-executive director on the board of Nestle.

The retiring chairman said this at the 54th annual general meeting of the company in Lagos on Wednesday.

He added that he had been the board chairman for 10 years and wanted to announce his successor at the beginning of the AGM, to give him (Oyebode) the opportunity to hear the concerns and expectations of the shareholders.

Ifezulike said, “It has been a privilege for me to serve in this capacity and the company and I introduce my successor, Mr Gbenga Oyebode. The reason I introduced him early is to enable him to hear all the complaints and resolve them.

“All we are doing is in the interest of the company.”

Oyebode was appointed to the board of Nestle on February 24, 2014. He’s the chairman of Okomu Oil Palm Plc and a director of both CFAO Nigeria and Lafarge Africa.