NIGERIA – PZ Cussons Nigeria Plc, a subsidiary of Manchester-based PZ Cussons Holdings has announced the appointment of Panagiotis Katsis as the company’s new CEO.
This was disclosed by the company in a notification to the Nigerian Stock Exchange (NSE), stating that its current CEO, Mr Christos Giannopoulos would retire from the company with effect from June 30, 2020 after serving in the position for about 11 years.
Mr Panagiotis’ appointment will take effect from July 1, 2020.
Christo Giannopoulos, who has an undergraduate degree from the University of Derby, joined PZ Cussons (UK) in July 1988 and has over the years served the company in various roles and functions across the business before rising to the position of Chief Executive Officer in Nigeria in 2009.
The CEO has served in other capacities within the conglomerate; include Executive Director, PZ Cussons Ghana Limited, Director HPZ Nigeria Ltd, Director PZ Wilmar Nigeria Ltd and so on.
“The board thanks Mr Giannopoulos for his service over many years,” the disclosure said.
The newly appointed Chief Executive Officer, Mr Katsis, joined the PZ Cussons Group in 1998.
He has worked in a variety of senior roles at the company which includes but not limited to General Manager, Commercial, Deputy Managing Director, PZ Cussons Nigeria Plc. He has been the Managing Director, HPZ/TEC since 2018.
The appointment comes at a time when the consumer goods manufacturer has reached an agreement to divest its Nigerian dairy business, Nutricima to Holland’s Royal FrieslandCampina Nigerian subsidiary, for an undisclosed sum.
PZ Cussons said in a statement to the London Stock Exchange, on which it is listed, that it has exchanged contracts for the sale of the assets associated with Nutricima’s business to FrieslandCapina WAMCO Nigeria.
Nutricima manufactures and distributes beverages in Africa. Its product portfolio includes milk and yoghurt-based drinks such as Nunu, Yo, and Olympic.
Under Nunu brand, the company offers a wide range of powdered, evaporated and ready-to-drink (RTD) milk beverages, while under Yo brand the company offers yoghurt drinks, as well as an RTD yoghurt range.