NIGERIA – Nigerian Breweries Plc, the largest brewing company in Nigeria, has announced new appointments to its board following the resignation of the Chairman, Asue Ighodalo, and the completion of the tenure of Ndidi O. Nwuneli as an Independent Non-Executive Director.
The company, in a notification to the Nigerian Exchange Limited (NGX) signed by the Company Secretary/Legal Director, Uaboi Agbebaku, detailed the decisions made during the Board Meeting held on December 7, 2023.
Asue Ighodalo, the outgoing Chairman, informed the Board of his decision to offer himself for public service.
In accordance with proper corporate governance practice, he will be resigning from the Board and as the Chairman on December 31, 2023, the company stated.
Expressing mixed emotions, Ighodalo stated that the decision was a painful sacrifice made to devote himself fully to the new cause.
“It is my pride to have been part of such a formidable organization well-positioned to meet the opportunities and challenges in Nigeria’s ever-changing business environment,” read his statement.
Simultaneously, Ndidi O. Nwuneli, who served as an Independent Non-Executive Director for nine years, will be stepping down from her role on December 31, 2023, following the completion of her tenure.
In response to these departures, the company announced the appointment of Sijbe “Siep” Hiemstra as the Chairman of the company in an interim capacity, effective January 1, 2024.
Hiemstra, the longest-serving Director, will oversee the Board’s affairs during the transition period and lead the process of appointing a substantive Chairman.
His extensive experience, including past roles as Heineken Regional President for Africa and Middle East, positions him well for this role.
Additionally, Stella Ojekwe-Onyejeli has been appointed as a Non-Executive Director, filling a vacancy on the Board, effective January 1, 2024.
With a background in risk management and a history of working in the financial services industry, Ojekwe-Onyejeli brings valuable knowledge and experience to the Board, having served on the boards of Coronation Insurance Plc and Rand Merchant Bank, among others.
The company expressed satisfaction in welcoming someone of Ojekwe-Onyejeli’s caliber, highlighting her skills in enterprise risk management, business planning, internal audit, and analytical abilities.
The appointments come as time as the company earlier announced plans to acquire an 80 percent stake in Distell Wines and Spirits Nigeria.
The acquisition is aimed at seizing substantial growth opportunities within the wines and spirits segment of the brewing industry.
Distell Nigeria is involved in the local production of wines and ciders and the importation of wines, spirits and flavoured alcoholic beverages from Distell Group in South Africa.
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