MR KOFI ABUNU NAMED AS NEW MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER

FOOD CONCEPTS PLC NAMES MR KOFI ABUNU AS MANAGING DIRECTOR

Food Concepts Plc – West Africa’s leading multi-brand restaurant platform – is proud to announce the promotion of Mr Kofi Abunu to the post of Managing Director and Chief Executive Officer of the Company. He will succeed Mr David Butler who will step down on 7th March 2022, on the expiration of his contract of employment, having led the Company with great success since 2014.

Mr Kofi Abunu joined the Company in 2007, and since 2017 has served as Divisional Managing Director (Business Development) of the Company. Kofi was selected and appointed as Managing Director and Chief Executive Officer following a rigorous and structured process that was conducted over a 12-month period.

The Company has been in a very fortunate position to have a great pool of talent; hence the appointment falls in line with the Company’s deep commitment to developing and producing talent from within the organisation. This appointment from within reflects our Company’s commitment to human resource development.

 

Kofi has over 28 years of experience in the food and hospitality industry and a diploma in hotel management. He also has a BA (Hon) International Business and Marketing from the University of London and CIMA UK. He previously worked at McDonald’s (UK), Nando’s, and Innscor/Famous Brands (Steers and Debonairs).

Commenting on the appointment, Mr Ayo Olagundoye, Chairman of Food Concepts Plc said: “We are proud and pleased to welcome Mr Kofi Abunu as Managing Director of the Company driving our ambitious strategy both within and outside Nigeria, we wish him the best and assure him of the full support of the Board. Equally, we pay tribute to David Butler for his exemplary leadership, vision, and passion which have built Food Concepts into one of the great retail success stories in West Africa, and offer our sincere thanks for all he has done for the Company and our over 5,000 people”.

Mr David Butler expressed confidence that Mr Kofi Abunu will make strong contributions to the Company and its future strategic development plans. Food Concepts Plc has experienced phenomenal growth over the past few years, and he is delighted to be handing over a business to Mr Kofi Abunu and a team of highly experienced, passionate, and very capable leaders.

Mr David Butler’s tenor as Managing Director has transformed the business and seen a period of dramatic growth, even amidst tough macro-economic conditions and the COVID-19 pandemic, and the Company has benefitted immensely from his exceptional leadership.

The entire Board, Management, and Staff of Food Concepts Plc acknowledge the outstanding contributions of Mr Butler to the growth of the Company and wishes him the very best in his future endeavours.

The Company is also proud to announce two further senior appointments:

Mrs Anthonia Agbonifo, currently an Executive Director, has been appointed to a new function as Executive Director (International Finance & Shared Services). Her portfolio will include overseeing domestic and international financing for the Company, as well as leading the Shared Services team.

Mr Ikenna Okongwu, currently Divisional Managing Director (Operations), has also been appointed as an Executive Director and will join the Board of Directors, effective 7th March 2022.

About Food Concepts Plc

Established in 2001, Food Concepts is the leading Quick Service Restaurant (QSR) operator in West Africa. The business is focused on the mass market and operates three of Nigeria’s best known, most loved and fastest-growing brands, Chicken Republic, PieXpress and Chop Box, across 25 Nigerian states, as well as in Ghana, complimented with an online delivery business growing at over 140% year on year.

Led by a best-in-class and experienced management team, Food Concepts has grown rapidly from 58 stores in 2015 to over 243 stores today, disrupting the Nigerian QSR sector with an Affordable Value proposition and demonstrating exceptional financial and operational performance, and high-quality corporate governance across economic cycles.

Food Concepts maintains a strong commitment to operating responsibly as a business, focused on developing local talent, and driving diversity and inclusion across the Company. Since 2015, it has created around 3,300 jobs directly and many more in its supply chain, which is 99% localized. Women comprise 51% of the workforce and 57% of the management team. The business was cited at the 2021 G7 summit as a leading success story in the development of women leaders.