Presco Plc Appoints Paul Antoon L. Cardoen as Chairman

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Presco Plc wishes to notify The Nigerian Stock Exchange, Shareholders and the General Public that at the Company’s Board Meeting held on Wednesday, October 28, 2020, the Board approved the appointment of Mr. Paul Antoon L. Cardoen as the new Chairman.

Mr. Paul Antoon L. Cardoen replaces Mr. Pierre Alice Vandebeeck, who after 28 years of leadership at SIAT Group has decided to step down as Chairman and CEO of the business.

Mr. Pierre Alice Vandebeeck co-founded SIAT in 1991 and has overseen its development and growth into the highly successful multinational agro-industrial business it is today.

Presco Plc Appoints Paul Antoon L. Cardoen as Chairman

Mr. Paul Antoon L. Cardoen is the Chief Executive Officer of Siat sa. A successful Chief Executive Officer (CEO) and Non-Executive Director (NED).

He has an international mindset with extensive work experience in financial services across Europe, USA, Asia and Africa.

His core capability is to advise and lead on strategy, governance, risk and regulatory compliance, motivated by new challenges and complex situations where the broad experience built from cross-cultural teams can be applied.

He led various teams through significant strategic and organizational change, including but not limited to: digital transformation, mergers and acquisitions (M&A), growth acceleration, operating model re-design, turnaround activity and crisis situations.

He is a former CEO of FBN Bank (UK) Ltd; Deputy General Manager (Member of Executive Committee), MUFG Bank (UK); Managing Director (Member of Executive Committee), BNP Paribas/Fortis (UK); CEO, The Trust Bank Ltd (Ghana) and CEO, Bank Belgolaise (UK) among others.

He brings his wealth of experience and exposure to the Board and Company.

Presco is a fully-integrated agro-industrial establishment with oil palm plantations, palm oil mill, palm kernel crushing plant and vegetable oil refining and fractionation plant.

It also has an olein and stearin packaging plant and a biogas plant to treat its palm oil mill effluent.

Presco specialises in the cultivation of oil palm and in the extraction, refining and fractionation of crude palm oil into finished products.

Presco supplies speciality fats and oils of outstanding quality to customer specifications and assures a reliability of supply of its products year-round. This is made possible by the integrated nature of the company’s production process.

Presco is the Nigerian market leader for speciality fats and oils.

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