Unilever Nigeria Plc has announced that Chika Nwobi will retire from its board of directors on December 31, 2026, after nearly nine years as an Independent Non-Executive Director.
The company disclosed this in a notice filed with the Nigerian Exchange (NGX) and signed by its Company Secretary, Peter Dada.
Nwobi joined the board on January 1, 2018.
His retirement is in line with the company’s Board Charter, which limits the tenure of Independent Non-Executive Directors to nine years.
The NGX notice
In the disclosure, Unilever Nigeria notified the exchange and the investing public of Nwobi’s impending departure.
- “Unilever Nigeria Plc hereby gives the Nigerian Exchange Limited and the investing public notice on the retirement of Mr. Chika Nwobi as a Director from the Board of the Company effective from the 31st of December 2026.
- “His retirement is in line with the Company’s Board Charter which stipulates a maximum number of nine years tenure for Independent Non-Executive Directors.”
Who is Chika Nwobi?
Nwobi is a technology entrepreneur and investor with experience spanning software engineering, venture development and technology consulting.
He graduated with honours from East Tennessee State University in the United States, where he earned a Bachelor of Arts degree in Economics and a Bachelor of Science degree in Computer Science. He also holds a master’s degree in Software Engineering from the University of Oxford.
His additional executive education includes courses in strategy, corporate finance and financial accounting at INSEAD, as well as human resources strategy and supply chain management at Tsinghua University in China.
Nwobi is the chairman of Vertex Software Corp, a position he has held since 2023, and the chief executive officer of Decagon, a technology company he founded in 2018.
He previously co-founded and led MTech, a technology company that provides IT solutions and business software to organisations.
His professional experience also includes consulting engagements for the Ford Foundation and the International Finance Corporation (IFC) on mobile money and micropayments technology in Nigeria.
Nwobi also runs L5 Lab, a venture development firm that has incubated African technology companies, including Jobberman and Cheki.
Unilever Nigeria’s financial performance
Nwobi’s planned retirement comes as Unilever Nigeria reports growth in revenue and profitability for the nine months ended September 30, 2026.
- The company recorded revenue of N184.0 billion, an 18% increase from N155.4 billion in the corresponding period of 2025.
- Gross profit rose by 34% to N85.5 billion from N63.9 billion, while gross margin improved to 46.4% from 41.2%.
- Operating profit increased by 27% to N38.5 billion, while net profit climbed by 20% to N26.4 billion, compared with N21.9 billion a year earlier.
The company attributed its performance to strong brand fundamentals, disciplined operations and execution of its route-to-market strategy.