Why I retired long-serving directors in DAAR Communications – Dokpesi Jnr

The Chairman of DAAR Communications Plc, Raymond Dokpesi Jnr, has explained that the retirement of long-serving directors last week was in line with regulatory requirements.

He said, the shake-up was part of strategy to grow the company in future based on the changing realities.

Speaking in an interview with journalists, Dokpesi ruled out any personal aggrandizement in the sack of directors from the company.

“It isn’t a personal decision to ask anyone to go. 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, adding that, “Our responsibilities to our shareholders transcend personal choices or opinions.”

He said, some directors have been with DAAR Communications from the early years, while some have spent over 27 years.

“Their retirement is, in fact, long overdue. This decision should have been made five, six, or seven years ago,” he added.

Speaking on the timing of removal of directors, he said, it was appropriate that changes take place now, asserting that during the former President Muhammadu Buhari’s tenure, the AIT and its founder were badly treated, hence, it couldn’t have come earlier than now.

“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 favourable, Dokpesi Jnr believed that it was 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.”

Dokpesi jnr believed that the shake up would not only rekindle confidence in the investors, but also in compliance with legal and regulatory standards that will assist in growing the company.

He assured that the 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 affirmed.