Chairman of DAAR Communications, Raymond Dokpesi Jr, has defended the management overhaul that followed the death of his father, media entrepreneur Raymond Aleogho Dokpesi Sr, describing the decisions as difficult but essential to stabilise the organisation and protect its long-term future.
Speaking in Abuja, Dokpesi Jr said the exit of several long-serving executives, including Tony Akiotu, was unavoidable in the aftermath of the company’s leadership transition.
According to him, the process was deliberately gradual to prevent internal conflict and reassure investors and other stakeholders at a fragile moment.
He disclosed that DAAR Communications faced immediate headwinds following his father’s passing, including shaken investor confidence and pressure on the company’s share value.
Balancing family responsibilities with urgent corporate demands, Dokpesi Jr said he soon encountered governance concerns after learning that an emergency board meeting had been convened by the company secretary without his knowledge.
He noted that the episode forced him to consider formal steps to protect corporate processes and reinforce boardroom accountability during a period of uncertainty.
The restructuring, he said, took more than 14 months to conclude, allowing management to manage staff sensitivities, honour obligations, and avoid destabilising the organisation while the family mourned its founder.
Dokpesi Jr acknowledged that the departing executives were owed salary arrears and other entitlements, which the company has worked to settle.
He said the accumulated obligations dated back many years and had grown into substantial liabilities under the previous management structure.
While expressing regret over any personal hurt caused by the transition, he maintained that the outcome justified the decisions taken.
“I will continue to apologise to Mr. Tony Akiotu and other exited executives for any pain the process may have caused,” he said. “However, I am convinced the choices were necessary, and the results are already visible.”
According to him, the leadership changes allowed DAAR Communications to refocus on clearing salary backlogs, strengthening operational discipline, and granting business units greater autonomy.
He added that most subsidiaries are now financially self-sustaining, with others expected to reach that stage before the end of the year.
Dokpesi Jr attributed the company’s gradual recovery to stricter corporate governance and decisive management actions, noting that improving share performance reflects renewed investor confidence as the organisation stabilises after a turbulent transition.
Credit: Vanguard
