NIGERIA – International Breweries Plc, the Nigerian subsidiary of Anheuser-Busch InBev (AB InBev) has appointed Tolulope Adedeji to its Board effective 18 September 2019 replacing Mr Godwin Oche who recently resigned from the Board.
According to a statement released by the brewing company, Ms Adedeji has extensive experience in building brands and businesses from scratch to market leadership.
In reference to her 15 years of work experience, she has worked as Brand and Commercial Leader and later Brand /Commercial Associate Director at Procter & Gamble in Nigeria and Ethiopia. She led the start-up of P&G brands in Ethiopia.
In addition to that she has worked on various brands such as Always, Pampers, Ariel, Gillette and Oral B in Nigeria and navigated these brands through a challenging macro-economic recession era.
Adedeji holds a Bachelor of Science degree in Business Administration from Babcock University, a Masters of Business Administration from Obafemi Awolowo University and a Masters of Science in International Management from the University of Liverpool, UK.
She is a Member of the Chartered Institute of Marketing (MCIM).
Aside from business she is passionate about Children Literacy, Female Empowerment and Youth Development. In this regard she established Mrsceonaija, a social enterprise.
She authored Smart Sindara, the adventure series- a fiction book centred on self-confidence, leadership and culture for African children. She is a board member of Caring friends foundation (NGO for children with special needs) and Irede Foundation.
Currently Ms Adedeji is the Marketing Director of International Breweries Plc where she leads the marketing teams in Nigeria and AB Inbev brands in Ghana. Some of the iconic brands under her leadership include Budweiser, Trophy, Hero, Club beer and Beta Malt.
The Nigerian Stock Exchange (NSE) listed firm recorded a net loss of US$10.49 million (N3.8bn) for the year ended December 2018 despite a strong revenue growth of 230% to US$332.97m (N120.6bn).
The company said that the growth was driven by the launch of its new brewery in Sagamu, Ogun State as well as a strong marketing push by the company.
However, a rise in finance cost coupled by a 29% increase in foreign exchange loss and 303% increase in interest expense on borrowings were partly to blame for the full-year loss.
During the period under review, administrative expenses also increased 360% to US$43.62 million (N15.8bn) while marketing expenses also climbed up 244% to US$57.7 million (N20.9bn).
The beverage company manufactures and distributes alcoholic and soft beverages in Nigeria under the Brands; Trophy Lager, Trophy Black, Castle Milk Stout, Castle Lager, Redds, Hero, Grand Malt, Betamalt, and Voltic Water.
The Nigeria Stock Exchange listed firm has been ramping up its capacity in the country as demand for its products increase.
The company has also been consolidating its holdings in the country to take on Nigerian Breweries Plc and Guinness Nigeria plc who are working to garner a significant market share through innovations.
The company merged its three breweries in the country (Intafact Beverages Ltd, Pabod Breweries and Int’l Breweries) into one entity.