Sunday, September 26, 2021

    Flour Mills of Nigeria GMD acquires shares worth ₦172.2million

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    The management of Flour Mills of Nigeria Plc disclosed in a statement filed with the Nigerian Stock Exchange that Paul Miyonmide Gbededo, the Group Managing Director/Chief Executive Officer, purchased 6,150,691 shares in the company.

    In a statement signed by Umolu Joseph, the Company Secretary and Director, Flour Mills of Nigeria, Gbededo bought the 1,948,839 and 4,200,852 and shares at N28 per unit on November 17 and 18, 2020 respectively.

    Is that information sufficient for you to make an investment decision?

    The Group Managing Director/Chief Executive Officer invested ₦172,219,348.00 in Flour Mills of Nigeria Plc in a move that suggested confidence in the future of the company.

    Paul Miyonmide Gbededo’s Profile

    Paul Gbededo, a Fellow of the Polymer Institute of Nigeria and Managing Director of FMN’s Agro-Allied Business, has been appointed the Group Managing Director/Chief Executive Officer of Flour Mills with effect from 1st April 2013.

    Paul was educated at the Polytechnic of North London UK where he obtained Graduateship of Plastic and Rubber Institute and Associateship of National College of Rubber Technology in 1980 and holds MSc.

    Degree in Polymer Technology (1981) of Loughborough University of Technology, UK. An alumnus of Lagos Business School, Advanced Management Programme 3, he attended Pasta Machinery Use, Maintenance and Operation at FAVA, Italy in 2005.

    Paul’s over 30 years career with FMN Group started at Nigerian Bag Manufacturing Company Plc (1982 – 1998).

    There, he acquired extensive experience serving in various managerial positions as Process Control Manager, Production Manager, General Manager Production and became the first Nigerian Production Director in 1993.

    Paul, best known for his pioneering role in fertilizer, pasta and rice, joined Flour Mills in 1998 as General Manager/Director in charge of fertilizer operations, pioneering development of the product, “Golden Fertilizer” the first choice of Nigerian farmers.

    He also served as a pioneer General Manager/Director for Golden Pasta Company Limited, a former subsidiary (now a division) of Flour Mills – which has grown to become Africa’s biggest pasta plant.

    In July 2012, Paul was elevated to the position of Managing Director, Agro-Allied business with responsibility to implement FMN Group’s backward integration policies, programmes and initiatives.

    In addition, he directs the operations of Golden Penny Rice Limited and sits on the Boards of Golden Sugar Company Limited and some other subsidiaries of Flour Mills.

    Paul who has a keen focus on results is fully engaged in mentoring career development of Nigerian Managers as well as expatriates.

    He brings seriousness and broad-based knowledge and experience of our different businesses into his new position.

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