Meyer Plc has appointed Engr. Goodwill Sunday Asade as its new Managing Director and Chief Executive Officer effective from March 3, 2026.
The appointment was disclosed in a statement signed by Kalu O. Kalu of Marriot Solicitors on Friday.
The company said the appointment has been formally communicated to the Nigerian Exchange Limited, its shareholders, and the investing public.
The Board expressed confidence in Asade’s capacity to drive the company’s strategic objectives and enhance stakeholder value.
Engr. Asade began his professional career at Cadbury Nigeria Plc, where he worked in operations for 18 years, holding various positions across manufacturing and procurement.
In April 2013, he was appointed Group Procurement Director at A.G. Leventis Nigeria Plc before rising to Chief Operating Officer in April 2018.
He holds a Bachelor of Engineering degree in Mechanical Engineering from the University of Ilorin and a Master of Business Administration from the University of Lagos.
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He is also an alumnus of Harvard Business School and a Fellow of the Nigeria Institute of Management.
Asade has over three decades of experience spanning reliability engineering, procurement strategy, sales and marketing, and business transformation.
His appointment follows the release of Meyer Plc’s 2025 financial results, which showed improved profitability and revenue growth.
The company reported a pre-tax profit of N737 million for the year ended December 31, 2025, a 61 per cent increase from N457.6 million recorded in the previous year.
Revenue grew by 36 per cent to N4.232 billion, driven by increased demand for its paint products.
Profit after tax stood at N550 million, marking an 86 per cent increase year-on-year.
The new leadership comes as the company builds on its improved financial performance, with stakeholders keen to see whether Asade will help Meyer Plc consolidate its growth trajectory.
