Meyer Plc has announced the appointment of Engr. Goodwill Sunday Asade as its new Managing Director and Chief Executive Officer, marking a leadership transition aimed at strengthening operational performance and sustaining recent financial improvements.
The company disclosed the decision in an official statement signed by Kalu O. Kalu (Esq) of Marriot Solicitors, confirming that the appointment will take effect from March 3, 2026. The development signals a strategic shift in leadership as the paint manufacturer seeks to consolidate growth and enhance long term shareholder value.
According to the company, “Meyer Plc (Meyer or the Company) hereby informs Nigerian Exchange Limited (NGX), its shareholders, and the investing public of the appointment of Engr. Goodwill Sunday Asade as the Managing Director Chief Executive Officer, effective from 3rd March 2026.”
The Board expressed confidence that the new chief executive possesses the experience required to drive corporate strategy and deepen operational efficiency. The appointment follows the release of the company’s 2025 financial results, which showed stronger profitability and revenue expansion, positioning the firm for renewed strategic execution.
Asade brings over three decades of cross functional industry experience spanning manufacturing operations, procurement strategy, supply chain management, and business transformation. His career began at Cadbury Nigeria Plc, where he spent 18 years working across operations, plant maintenance, and management roles with increasing responsibility.
He later joined A.G. Leventis Nigeria Plc, where he served as Group Procurement Director before rising to Chief Operating Officer in 2018. In that role, he supervised multiple business units including vehicle sales and marketing, after sales engineering, truck assembly operations, real estate services, fleet solutions, procurement, and quality assurance functions.
The Board noted that Asade’s professional background aligns with Meyer Plc’s long term strategic priorities, particularly in operational optimisation and value creation. His leadership profile includes experience in digital transformation, sourcing strategy, and enterprise performance improvement initiatives.
Academically, 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. He is also an alumnus of Harvard Business School. Professionally, he is a Fellow of the Nigeria Institute of Management, a registered engineer with the Council for the Regulation of Engineering in Nigeria, and a member of both the Nigeria Society of Engineers and the Chartered Institute of Purchasing and Supply in the United Kingdom.
The leadership change comes at a time when Meyer Plc is recording improved financial momentum. The company reported a pre tax profit of N737 million for the 2025 financial year, representing a 61 percent increase compared with the previous year. Revenue also rose by 36 percent to N4.232 billion, supported by stronger demand for its paint products. Profit after tax grew by 86 percent year on year to N550 million.
Industry observers view the appointment as a continuity move designed to reinforce operational discipline while sustaining profitability gains. Investors are expected to monitor whether the new leadership can help the company surpass earlier peak earnings levels and maintain growth momentum in Nigeria’s competitive manufacturing sector.
With the transition now confirmed, Meyer Plc enters a new management phase focused on execution, efficiency, and improved stakeholder returns as it builds on recent financial recovery.
