Market Date: 24-05-2013
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World of Business
Nigerian breweries gets acting MD
Category: Daily & Weekly Market Updates
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An acting managing director has been appointed for Nigerian Breweries Plc.
He is Mr. Paul Harmers, a non-executive member of the firm.
According to a statement by the company\'s Corporate Communications Adviser, Mr. Chuma Igwe, Harmers appointment is to enable the current managing director, Mr. Festus Odimegwu proceed on yearly leave with effect from May 29.
Igwe stated: \"His proceeding on leave is a normal result of his long and hard work.\"
He added: \"He will also attend Stanford and Harvard Business School to pursue some study courses. He will then return to his position at Nigerian Breweries.\"
However, the brewing firm has denied all claims that its managing director is under any sanction for his alleged role in the third term project.
According to Igwe, the position of Odimegwu as the brewer\'s chief executive officer remains unchanged.
While acknowledging the speculations on Odimegwu\'s current status in the company, Igwe disclosed that the embattled CEO is just about to proceed on leave.
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