FTN Cocoa Names Otunba Wale Jubril Interim Chairman After Founder's Death

FTN Cocoa Processors Plc appointed Otunba Wale Jubril as Interim Chairman of its Board following the death of long‑serving Chairman High Chief (Sir) S.O. Oguntimehin, OON, who passed away on March 30, 2026. The board approved Jubril’s appointment at a meeting on July 21, 2026, and disclosed the change in a regulatory filing dated August 18, 2026, signed by company secretary Opeoluwa Falase of Alphagenasec Limited. Jubril brings over three decades of capital‑market experience, having served as a Non‑Executive Director since 2015, held executive roles at Paints and Coatings Manufacturers Nigeria Plc and Float Securities Limited, and currently serves as an Independent Non‑Executive Director of Gateway Mortgage Bank. His leadership comes as FTN Cocoa works to reverse a decade of losses; the company reported a pre‑tax loss of ₦252.65 million for FY 2025, a significant improvement from the ₦9.5 billion loss in 2024, while revenue jumped 310% to ₦5.65 billion. Despite the earnings challenge, the stock closed at ₦8.42 on August 18, 2026—a 53.1% year‑to‑date gain from ₦5.50 at the start of the year. With the interim chairman in place and shares up over 50% YTD, will investors hold for further recovery or consider profit‑taking?

SOURCE: https://nairametrics.com/2026/08/19/ftn-cocoa-taps-wale-jubril-to-steer-board-after-chairmans-death/