Raymond Dokpesi Jr., Chairman of DAAR Communications, spoke about the changes in leadership after his father, Chief Raymond Aleogho Dokpesi Sr., passed away. He explained that some hard choices had to be made to keep the company strong and make sure it has a good future.
In Abuja, Dokpesi Jr. said that letting go of executives who had been there for a long time, like Mr Tony Akiotu, wasn’t easy. But it was something that had to be done to keep the company going and growing. He said the changeover was handled carefully to keep things calm and keep investors and others who have a stake in the company feeling secure.
He shared that the company had some big problems right after his father’s death. People weren’t as confident in investing, and the company’s stock prices went down. Dokpesi said he had to deal with both family matters and urgent company issues. He found out that the company secretary had called an emergency board meeting without him knowing, which made him think about taking official steps to protect how the company is run.
It took over a year to complete the departure of the longtime management team. This gave him time to keep the company stable, while also dealing with his family’s grief and the feelings of the staff.
He also mentioned that when the executives left, the company still owed them salaries and other payments. They were owed salary arrears and other obligations; But they were in charge of management for the last 15 years, and the salary arrears went up to billions, he said.
Dokpesi apologised to the former executives, saying, “I’m very sorry to Mr Tony Akiotu and the staff who left for any bad feelings caused by what we did. But I still think it was the right thing to do, and we’re already seeing the positive results.”
Dokpesi said that these leadership changes allowed the company to focus on paying salaries and gave the different parts of the company more control over how they operate. He noted that DAAR Communications has been getting better, with most of its business areas now able to support themselves. The rest are expected to be fully independent by the end of the year.
Dokpesi said the company’s comeback and better performance are because of the strong steps taken to manage the company during the changeover. He pointed out that the increasing stock prices show that investors are feeling confident again, which means the company is getting back on its feet.
The need for change became obvious when the company’s performance started dipping shortly after the death of Chief Raymond Aleogho Dokpesi Sr. Insiders say there was a sharp decline across different departments, and this raised eyebrows, pushing for quick action to save the business.
Raymond Dokpesi Jr explained that the company had no choice but to let go of some long-serving executives to save the company. He noted, It was a tough call. I understand some people were hurt, but it was all about making sure DAAR Communications doesn’t sink.
One of the tough situations he had to face was addressing unpaid salaries. When the new management came in, they noticed that the company owed a lot of money in unpaid salaries, which affected the staff morale and performance. Raymond Dokpesi Jr made it a priority to resolve these payments, which improved how the employees felt and worked.
The DAAR Communications chairman also talked about how important it is to keep everyone who has a stake in the company happy, including investors and partners. The new management has been open and honest in its communication, which has strengthened these relationships and brought in new chances for the company.
In ensuring everything was done rightDokpesi Jr said that he considered formal petitions to safeguard corporate governance. This shows how serious he was about keeping the company running honestly and by the rules.
Now that things are getting better, DAAR Communications is looking ahead. The goal is to use new ideas and technology to grow the business and reach more people. The company is investing in its facilities, coming up with interesting content, and trying out new ways to connect with its audience.
Raymond Dokpesi Jr gave credit to the team that helped turn things around. He mentioned that without the hard work and dedication of the staff, the company wouldn’t be doing well. He praised the team for their strength during a difficult period and said he was excited about the future of DAAR Communications.
Lastly, Raymond Dokpesi Jr acknowledged the impact of his father’s legacy on the company. He said that Chief Raymond Aleogho Dokpesi Sr’s vision and values continue to direct the company and that DAAR Communications is still dedicated to delivering quality journalism, entertainment, and information to the public.
