Presco Plc has announced changes to its board and executive leadership, marking the exit of longtime executive Felix Nnabuko and the appointment of Adewale Arikawe.
Arikawe is stepping in as a new non-executive director on Presco’s board and Group Chief Executive Officer of SIAT NV, the parent company of Presco.
In a corporate disclosure to the Nigerian Exchange Limited (NGX), Presco said Arikawe’s appointment as a non-executive director took effect from January 2, 2026. He succeeds Nnabuko, who is retiring from the Presco board after several years of service across SIAT NV and its subsidiaries.
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Nnabuko had been a central figure in Presco’s leadership for nearly a decade, serving as managing director since 2015 before his appointment as Group CEO of SIAT in March 2024. During his tenure, he played a key role in the operational and financial growth of Presco and in strengthening the broader SIAT group’s footprint in West Africa.
The board expressed appreciation for Nnabuko’s contributions, describing his leadership as exceptional and instrumental to the company’s long-term development.
Beyond his board appointment, Arikawe has also been named Group Chief Executive Officer of SIAT, with responsibility for overseeing all the group’s subsidiaries, including Presco Plc, SIAT Nigeria Limited and Ghana Oil Palm Development Company (GOPDC). In this role, he is expected to work closely with existing management teams to deepen execution, accelerate strategic growth, and strengthen performance across the group.
Arikawe joins SIAT with almost 30 years of leadership experience across general management, commercial strategy, sales, and brand management. Until his appointment, he was Managing Director, Sub-Saharan Africa at Royal FrieslandCampina, overseeing operations across multiple African markets. He also served as sales director at FrieslandCampina WAMCO Nigeria, makers of Peak Milk, a role he is expected to exit following his new appointment.
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Prior to joining FrieslandCampina, Arikawe spent 18 years at Nestlé Nigeria Plc. At Nestlé, he held several senior leadership roles and managed multi-channel sales operations, contributing to major growth initiatives within the company.
He holds an MBA from the University of Chichester and is an alumnus of the Olabisi Onabanjo University, Ago-Iwoye in Ogun State.
Presco’s board said it welcomed Arikawe’s appointment and looked forward to his contributions to the company and the wider SIAT group, while reiterating its gratitude to Nnabuko for his enduring legacy.