In an interview, Raymond Dokpesi Jnr, Chairperson of DAAR Communications, has offered an in-depth explanation of the recent management changes at the company. The shake-up, which has seen the departure of several long-serving directors, according to him is part of a broader strategy to align with regulatory requirements and ensure the company’s future growth.
Dokpesi Jnr began by clarifying that the decision to part ways with these directors was not driven by personal preference. “It isn’t a personal decision to ask anyone to go,” he stated. “If it were up to me, I would definitely want to harness the experiences, relationships, and skill sets of our management for a little bit longer.”
As a publicly listed company on the Nigerian Stock Exchange, DAAR Communications is subject to the rules set by the Security and Exchange Commission and the code of corporate governance. These regulations mandate that directors serve no more than two terms of five years. Dokpesi Jnr emphasized, “Our responsibilities to our shareholders transcend personal choices or opinions.”
He noted that many of the current management team members have been with DAAR Communications since its early days, with some serving for up to 27 years. “Their retirement is, in fact, long overdue,” he said. “This decision should have been made five, six, or seven years ago.”
Dokpesi Jnr also addressed the political context influencing the timing of these changes. Reflecting on the Buhari administration’s impact on the organization, he noted, “During that period, the treatment of AIT and our founder was difficult. Implementing changes at that time might not have been the best idea.”
With the current political environment now more favorable, Dokpesi Jnr believes it is an ideal time for a strategic review of the company’s direction. “The time is right for us to review where we want to go,” he remarked. “We must decide whether to continue on our existing trajectory or to pursue something different.”
He highlighted that the shake-up aims to ensure compliance with legal and regulatory standards, thereby instilling confidence in investors and supporting the company’s growth. “We need to abide by existing laws and regulations to give the investing public confidence in our organization and its administration,” Dokpesi Jnr explained.
Finally, Dokpesi Jnr assured that these changes would create opportunities for both existing staff and external candidates. “Opportunities will open up for people within DAAR Communications to advance into new roles, as well as for qualified individuals from outside the organization and the broader industry to contribute,” he concluded.
