Consumers Goods Company, Foodco, has won the award for Multigenerational Company of the Year at the inaugural edition of Nigerian Business Leadership Awards .
The award initiative, according to the organisers, sought to recognise and honour businesses that have contributed meaningfully to Nigerian economy.
Speaking at the ceremony, Chief Executive Officer of Business Day, Frank Aigbogun, stated that the company was considered for the honour as a result of its commendable growth profile across successive generations of leadership, amidst other factors. “Its selection was in consideration of its ability of successive leaderships , to steer organisation towards greater levels of success. This is an uncommon feat in Nigeria where many enterprises do not survive the first generation,” he said.
He added that the company has maintained a strong market position and currently making entrance into new regions, thus, defying a tough business environment.
“We are particularly impressed at the impact the company is making both in terms of job creation and innovation, especially in the Nigerian retail space. It is a shining example for home grown brands seeking to make transition into corporate institutions and we congratulate them for this milestone.
Receiving the award, CEO-designate, Ade Sun-Basorun said: “This award means a lot to the company and its team. Since inception 37 years ago, we have maintained a consistent focus in investing in people and in our communities. This enduring vision has helped harmonize the efforts of successive generations of the company’s leadership in becoming a responsible corporate citizen and reliable partner to our various stakeholders.
“We are grateful for the recognition and we thank the organisers for their commitment towards promoting initiatives that enshrine the values of corporate governance and sustainability thinking among Nigerian businesses.”