22nd May, 2018
Jennifer Okundia
Nestle Nigeria Plc is one company which has contributed greatly to the Nigerian market. Its 49th Annual general meeting held today, May 22nd 2018 at Muson centre, Onikan, VI, Lagos.
The board of directors present include: Ndidi Nwuneli, Gbenga Oyebode, Mauricio Alarcon Nestle MD, David Ifezulike- Chairman, Bode Ayeku- Secretary Jagdish Kumar Singla-Finance and control director and Ricardo Chavez – Finance head and control.
They also had a question and answer segment with shareholders who congratulated the team for a job well done in 2017 as their profit had increased immensely.
However Kis Marzouki Head of Nestle central and West Africa region was absent.
Shareholders Observations:
*Increase in employment of physically challenged persons from 14 in 2016 + additional 4 in 2017
*One woman in board of directors amongst 7 men.
*Increase in profit from 7,924,968 in 2016- 33,723,730 in 2017.
*Increase in Dividends to Equity holders from 15,060,469 in 2016- 19,816,000 406 in 2017.
*Bonuses were last remunerated in 2011.
*Total income tax expense from 13,623,440 in 2016 – 13,104,952 in 2017
Shareholders Suggestions:
*Corporate Social Responsibility in sports
* More women should be added to the board of directors
*Factory water should be set up in Aba, south east Nigeria to ease transportation costs
*Finance safety and governance committee should be set up
* A Website should be set up for unclaimed dividends
*Research and development should be carried out on more products to address ailments prevalent in the modern day
*Bonuses should be paid
Photos: Ayodele Efunla