Raymond Dokpesi Jnr, Chairperson of DAAR Communications, has explained the recent management changes at the company, which include the departure of several directors, including Tony Akiotu and Mary Lawrence-Dokpesi, wife of Dokpesi.
DAAR Communications Plc, owners of Raypower FM, AIT, and Faaji FM, has announced the retirement of several directors, including Tony Akiotu, Oluwatosin Dokpesi, Ambrose Somide, Anthony Uyah, Paulyn Ugbodagha, and Mary Lawrence-Dokpesi, wife of Dokpesi. The retirement takes effect on October 31, 2024.
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According to Dokpesi Jnr, the decision was not driven by personal preference but by the need to align with regulatory requirements and ensure the company’s future growth. He noted that many of the current management team members have been with DAAR Communications for up to 27 years, and their retirement is long overdue.
The company is subject to the rules set by the Security and Exchange Commission and the code of corporate governance, which mandate that directors serve no more than two terms of five years.