Nigeria, Jan. 13 -- Presco Plc has announced a change in the composition of its board with the appointment of Adewale Arikawe as a non-executive director, effective from 2 January.

In a notice to the Nigerian Exchange Limited (NGX) signed by its secretary, Frederick Ichekwai on Monday, the palm oil producer said Mr Arikawe was appointed to fill a casual vacancy on the board and will serve until the company's next annual general meeting.

He replaced Felix Nwabuko, who retired after several years on the board. The company said Mr Nwabuko made significant contributions to Presco and its parent company, SIAT NV, and thanked him for his years of service and leadership.

Presco also disclosed that Mr Arikawe had been appointed Group Chief Exe...