Flour Mills of Nigeria appoints new CEO as Paul Gbededa retires


Flour Mills of Nigeria Plc, leading integrated Food and Agra-allied group, owners of the iconic brand-‘Golden Penny’, today announced the retirement of Paul Gbededa as its Group Managing Director/Chief Executive Officer, effective 31st December 2020.

Paul Gbededo’s career with the FMN Group started at the Nigerian Bag Manufacturing Company (BAGCO) as a management trainee in 1982.

Since then, he had taken up several managerial positions within the group including, the first Nigerian Production Director for BAGCO in 1996, the pioneer General Manager/Director in charge of fertilizer operations, the pioneer General Manager/Director for Golden Pasta Company Limited, and Managing Director, Agra-Allied business with responsibility to implement FMN Group’s backward integration policies, programmes and initiatives.

On the 13th of March 2013, he was appointed a member of the Board of Directors and designate Group Managing Director/Chief Executive Officer, which position he assumed fully effective April 1, 2013.

Mr. John Coumantaros, Chairman of the Board, commented:

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    “Paul is a brilliant colleague and an exceptional leader who we will miss dearly. On behalf of the board, I must express our heartfelt thanks for his extraordinary Contributions in leading our great company through a period of growth, expansion and profitability.

In his part, the outgoing GMD/CEO, Mr. Paul Gbededo, stated:

“I cannot deny that I will miss the rigorous strategy sessions with the board, the position of the executive team, and of course the relentless inventive spirit of our people from various businesses locations in the country. Nevertheless, I must say that I am confident that it is time to hand over leadership to the next generation, I have worked closely with Boye Olusanya, and I am confident that with him at the helm of affairs, the group is on course to reach even greater heights.”

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