May 2, 2018 - 24 Oba Akran Avenue PMB 21071 Ikeja Nigeria Telephone 497 1560-9 2709 100 Fax 497 0560, 2709338. WWW.guinn
GUINNESS NIGERIA 2nd May 2018 Guinness Nigeria PLC PLANNED DIRECTORATE CHANGE GUINNESS NIGERIA TO WELCOME NEW CEO CEO Peter Ndegwa will move on within the global Diageo group to new role and Guinness Nigeria will welcome Baker Magunda to CEO role in due course. Wednesday, 2nd May 2018, Lagos – Guinness Nigeria today announces that CEO Peter Ndegwa will be stepping down to take up a new role within Diageo plc, Guinness Nigeria’s parent company. Baker Magunda, currently Managing Director of Meta Abo Brewery in Ethiopia will take over as the new CEO of Guinness Nigeria, following a period of transition. Peter has been at Guinness Nigeria for nearly three years and has overseen the recent transformation at the company, including the successful Rights Issue and implementation of the productivity programme. Recent Q3 financial performance has shown the improvement that these projects are delivering. Baker Magunda will join Guinness Nigeria from Diageo owned Meta Abo Breweries in Ethiopia. Under Baker’s tenure Meta Abo has seen the launch of the Guinness brand in the country and a strong innovation pipeline of brands brought to market. He has nearly twenty years’ experience in the consumer goods and alcohol industry and has worked across Africa in Uganda and Kenya as well as Ethiopia and the Sudan. Commenting on the news, Guinness Nigeria Chairman Mr. Babatunde Abayomi Savage said: “I would like to thank Peter for his transformational work over the past few years, he has led the business through challenging times and taken us forward. It is great to see him moving on within Diageo. I would also like to use this opportunity to welcome Baker to the role. I look forward to working with him.” Peter Ndegwa added: “We have been on a significant journey in Nigeria over the past few years and I am proud of the work that has been done and where the company has got to. The business has more to do certainly and I know the team under Baker’s excellent leadership will do well. I look forward to my new challenge and will follow the progress of Guinness Nigeria with interest.” Commenting on his forthcoming new role, Mr. Magunda noted: “I am delighted to be joining Guinness Nigeria at this time. The team has worked hard to deliver change and progress in a complicated economic environment. I look forward to continuing Peter and the team’s work when I formally join. There is a lot to go after and as Nigeria’s only total beverage alcohol player, there is a great opportunity.” 24 Oba Akran Avenue PMB 21071 Ikeja Nigeria Telephone 497 1560-9 2709 100 Fax 497 0560, 2709338 WWW.guinness-nigeria.com Directors: Mr B A Savage (Chairman) Mr R J O’Keeffe (Irish) (Vice Chairman) Mr. Peter Ndegwa (Kenyan) (Managing Director/CEO) Prof J O Irukwu SAN Mr B J Rewane Mrs Z Abdurrahman Amb. S T Dogonyaro Ms N O Edozien Dr O O Johnson Mr Leo Breen (British) Mr. Mark Sandys (British) Mr. Stanley Njoroge (Kenyan)
A subsidiary of DIAGEO PLC
The formal appointment will be announced to the Nigerian Stock Exchange when Mr. Magunda is officially appointed to the Board of Guinness Nigeria. -
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Signed For: Guinness Nigeria Plc
Rotimi Odusola Legal Director/Company Secretary
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[email protected] Tel: +234 (0) 808 692 4016 Notes to editors/ About Guinness Nigeria Guinness Nigeria Plc was established in 1950 and listed on The Nigerian Stock Exchange in 1965. With a shareholder base of over 75,000 shareholders, it is also one of the foremost quoted companies in Nigeria. The company built its first brewery in Ikeja in 1962, and currently has facilities in Ikeja, Benin City and Aba. Included in its portfolio are Guinness Foreign Extra Stout, Malta Guinness, Satzenbrau Pilsner, and Orijin amongst others. Guinness Nigeria is a subsidiary of Diageo Plc, a global leader in beverage alcohol with an outstanding collection of brands across spirits, and beer categories. For more information, please visit www.guinness-nigeria.com. Celebrating life, every day, everywhere.
24 Oba Akran Avenue PMB 21071 Ikeja Nigeria Telephone 497 1560-9 2709 100 Fax 497 0560, 2709338 WWW.guinness-nigeria.com Directors: Mr B A Savage (Chairman) Mr R J O’Keeffe (Irish) (Vice Chairman) Mr. Peter Ndegwa (Kenyan) (Managing Director/CEO) Prof J O Irukwu SAN Mr B J Rewane Mrs Z Abdurrahman Amb. S T Dogonyaro Ms N O Edozien Dr O O Johnson Mr Leo Breen (British) Mr. Mark Sandys (British) Mr. Stanley Njoroge (Kenyan)
A subsidiary of DIAGEO PLC
