NIGERIA – Nigerian Breweries Plc (NB), the largest brewing company in Nigeria, has announced the retirement of its Chairman, Chief Kolawole B. Jamodu, CFR, with effect from April 30th, 2023.

Chief Jamodu joined the Board on March 1st, 2006, and became Chairman on January 1st, 2008, playing a significant role in the Company’s growth and transformation, which included various acquisitions and mergers between 2011 and 2014.

The Board expressed its appreciation to Chief Kolawole B. Jamodu for his 17 years of meritorious service and valuable contributions to the growth and success of the company during his tenure.

The Board has also appointed Mr. Asue Ighodalo to be the new Non-Executive Chairman effective on May 1st, 2023.

Mr. Ighodalo joined the Board on January 1st, 2022. He is a highly experienced lawyer with over 35 years of experience and a leading figure in corporate Nigeria.

He currently serves as the chairperson of Sterling Bank Plc and Levene Energy Group and sits on the Board of Okomu Oil Palm Plc. He is the immediate past chairperson of the Nigerian Economic Summit Group.

Effective May 1st, 2023, the Board of Directors of Nigerian Breweries will be composed of the following members: A. Ighodalo – Chairman; H. Essaadi (Dutch) – Managing Director/Chief Executive; Mrs. J. Anammah; Mrs. A.O. Aroyewun; S. Hiemstra (Dutch); Mrs. N.O. Nwuneli, MFR; Mrs. I.M. Omoigui Okauru, MFR; R. Pirmez (Belgian); I.A. Puri; B.A. Wessels Boer (Dutch); Mrs. Y. Yedikardesler (Turkish).

Meanwhile, Mr. Uche Unigwe, Sales Director at Nigerian Breweries PLC, will be stepping aside from his role, effective May 1st, 2023, the company said.

Uche has had a remarkable career of 34 years within HEINEKEN across Africa and Europe, where he consistently contributed his wealth of experience and expertise to business growth in Supply Chain, Commerce, Export Operations, and General Management.

For the important position, Ayodele Lawal, who has been a part of the Nigerian Breweries family since 1991, when he started his career as a Brewer, will succeed Unigwe.

With over 30 years of experience, Ayo has held various senior roles in Supply Chain and Sales, including Regional Business Manager and Regional Trade Marketing Manager in Nigeria. He also led Special Projects in Vietnam and served as Sales Director in Haiti.

He joins the position at a time when the brewer is experiencing a high demand, as depicted in the company’s latest financial results.

NB experienced a 26 percent sharp rise in revenue, growing from N437,195,534,000 in the 2021 financial year to N550,477,627,000 in 2022.

However, it anticipates hyperinflation, a very high and typically accelerating inflation, to continue and will put pressure on disposable income, as well as affect economies, including its business.

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