August 25, (THEWILL) – DAAR Communications PLC, the parent company of African Independent Television, AIT, Raypower, and Faaji FM, has retired Dr Oluwatosin Dokpesi, a widow of his late father, Chief Raymond Dokpesi, from the employment of the broadcast company.
Until her retirement, Tosin, who was one of the several wives of the late media guru, was the managing director of AIT. She was also one of the most prominent of his four wives. The 55-year-old was sent packing by Dokpesi junior alongside other staff such as Tony Akiotu, Ambrose Somide, Anthony Uyah, Paulyn Ugbodagha, Mary Lawrence-Dokpesi, Faith Ikems, Imoni Mac Amarere, John Iwarue, and Johnson Onime, all of whom were senior management staff and executive directors who served in their roles for over a decade. Their retirement is supposedly to align with the Code of Corporate Governance and the Company’s Internal Control Policies and Procedures Manual. Their retirement is effective from October 31, 2024, after they would have completed their two-term tenure.
Chairman of DAAR Comunications, Raymond Dokpesi Jnr has however clarified that the decision to part ways with the directors was not driven by personal preference because if it were up to him, he would prefer to harness their experiences, relationships, and skill sets for a little bit longer. He noted that many of the current management team members have been with the company since its early days, with some serving for up to 27 years. And so their retirement is, in fact, long overdue.
He added that 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. Therefore, DAAR communications’ responsibilities to its shareholders transcend personal choices or opinions.
