International Breweries Plc Restructures Its Board of Directors

Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp

Wednesday, June 13, 2018 2:40PM / NSE


Sequel to the merger of Intafact Beverages Limited and Pabod Breweries Limited with International Breweries Plc "the new entity", effective 13 November, 2017, it was deemed that representatives of the merged Companies be reflected on the board of the new entity.

This necessitated a restructuring of the Board of Directors. The investing public and esteemed shareholders are hereby informed of the corporate changes to the Company as follows:


Appointment of Chairman 

The Board at its meeting of June, 2018 has appointed His Royal Majesty, Igwe Nnaemeka Alfred Achebe CFR, MNI as the new Chairman of its Board of Directors. 

His Majesty Nnaemeka A. Achebe, Obi of Onitsha, had a 30-year career with the Royal Dutch Shell Petroleum Group of Companies in Nigeria and overseas. He was the Chairman of Diamond Bank PLC and Intafact Beverages Ltd. (subsidiary of AB In Bev). He is the Chairman of the Anambra State Traditional Rulers Council and Chancellor of Kogi State University and Ahmadu Bello University, Zaria. He was educated at Stanford and Columbia Universities in the U.S.A and also attended the National Institute for Policy and Strategic Studies, Kuru. He was appointed to the Board of Unilever Nigeria Plc. in March 2003 and is currently the Chairman of that Board. 

Igwe Achebe replaces Mr. Sunday Akintoye Omole who recently stepped down as Chairman of the Board following the merger of the three Companies. Mr. Omole remains on the Board as a Non-Executive Director along with Mr. Gbenga Awomolo. 

Other Board Appointments 

At the Annual General Meeting of the Company which held on 30 May, 2018, shareholders ratified and approved the following appointments to the new board of International Breweries Plc- 

Annabelle Degroot — Managing Director

Annabelle has about 20 years exceptional experience in managing Corporate finances and has been responsible for the roll out of Integrated Business Planning processes and managing strategic Change Management projects within the then SABMiller now AB Inbev businesses. She was the Managing Director of Zambian Breweries Plc prior to joining IB Plc. She holds a Bachelor of Arts and a Master's degree in Economics from Cambridge University. 

Annabelle is a qualified Chartered Accountant from the Institute of Chartered Accountants, England and Wales (ICAEW). She is also a Fellow of the Zambian Institute of Chartered Accountants. 

Zuber Momoniat-Finance Director

Zuber is a Chartered Accountant with close to two decades of cognate practice. He holds a National Diploma in Biotechnology from the Witwatersrand Technikon in South Africa, a BCom in accounting as well as financial accounting from the University of Witwatersrand in Johannesburg, South Africa. 

Zuber began his accounting career with PriceWaterHouseCoopers “Pwc” in 2003 and went on to join the then SABMiller group, now AB Inbev as group reporting manager for SABMiller Africa and Asia and later Finance Manager for SABMiller Africa. He was the Finance Manager at PABOD Breweries Limited (Subsidiary of ABInbev) from where he was appointed as the Finance Director for International Breweries Plc. 

HRM Igwe Peter Nwokike Anugwu JP, OFR.-Non-Executive Director

He holds a Diploma in Agricultural Engineering from the School of Agriculture, Umudike in Abia State. He is a traditional ruler of the ancient Mbaukwu Kingdom in Anambra State and Member, State Traditional Rulers Council and the Elders Council of Anambra State. 

He is the holder of various congressional Honors, Proclamations and Keys from several cities in the United States of America and a member of the Board of Directors of the World Conference of Mayors. He was also conferred with the National Honor of the Order of the Federal Republic of Nigeria (OFR). He is currently the Chairman of the Board of Directors of Julius Berger Services Nigeria Limited. 

Michael Onochie Ajukwu-Non Executive Director.

Mr. Ajukwu is an astute professional with combined expertise and contribution to Stakeholder engagement, risk advisory, general management, corporate finance spanning over three decades. 

He holds a BSc (Finance) from the prestigious University of Lagos and an MBA from the New York University. He served as an Executive Director, Corporate Banking with United Bank for Africa. Mr. Ajukwu has over 21 years of experience in the banking industry with specialty in the Energy and Multinational sector. He has extensive business experience in Africa and particularly in Nigeria. He serves as Chairman of Altech West Africa Limited, Munca Properties Limited and Mobax Nigeria Ltd. He has been an Independent Director of Tiger Brands Limited since 2015. 

Abiye Tobin-West-Non Executive Director

Abiye Tobin-West is a seasoned Civil Servant with several years of experience. As a highly experienced graduate of Economics with Bachelors and Masters Degrees, Tobin-West is well versed in issues of taxation, management of investment portfolios including recapitalization and divestments. 

As an astute Public Administrator, she has cognate experience in corporate governance and served in several Boards of corporations in Rivers State. 

Abiye Tobin-West is a life member of the Economic Society of Nigeria, a fellow of the Chartered Institute of Taxation, and a member of the Institute of Cost and Management Accountants. 

Phillip Redman-Non Executive Director

Phillip Redman holds an MBA from the London Business School and a Master’s degree in Mechanical Engineering from the University of Bristol, UK. Phil had a stint with Honeywell, where he started as a graduate trainee moving through a series of Technical roles and leaving the company as the Strategic Marketing Director where he led the development and creation of the 5 year growth strategy. 

Phil joined the then SABMiller, now AB Inbevin 2012, as an Innovation Manager in the Group Office in London. Phil is currently the General Manager at Accra Breweries Limited. 

Michael Daramola

Otunba Daramola attended the prestigious Kings College Lagos. He studied Industrial Economics and Industrial Finance in the then Soviet Union. He worked with the Central Bank of Nigeria, L.M Ericsson Nigeria Limited and later, MicCom Cables & Wires. 

He is an astute administrator and at different times has been in the management of the Company at both management and board levels. 

Godwin Oche

Godwin has a background in Chemical Engineering and holds a Post Graduate Diploma in Business Administration. He also has an MBA from the Enugu State University of Science and Technology Business School. He is a member of the Institute of Management and the Institute of Personnel Management. 

Godwin brings with him to the Board, about two decades of sales and marketing experience with continental and merit awards. Prior to joining Intafact Beverages Limited in 2010 as the pioneer district manager, he was the Trade and Marketing Distribution Manager in British American Tobacco. He is currently the National Sales Director for International Breweries. 

Change in Registered Address 

The Company’s registered address which was previously Lawrence Omole Way, Ilesa-Osun State has now been changed to 22/36 Glover Road, Ikoyi-Lagos with statutory filings effected.

 Proshare Nigeria Pvt. Ltd.

Related News

1.       INTBREW Reports Q1 2018 Results; Records Pre-tax and Post-tax Losses of N2.6bn and N2.2bn Respective

2.      INTBREW Declares N2.24bn Loss in Q1 2018 Results,(SP:N51.80k)

3.      INTBREW Declares N1.49bn PAT in 2017 Audited Results,(SP:N54.40k)

4.      INTBREW Reports Q4 2017 Results – Neutral to Negative Reaction Expected by The Market

5.      DANGSUGAR, INTBREW Top Gainers as MORISON, JAIZBANK Top Losers in 2017

6.      DANGSUGAR, MAYBAKER and INTBREW Among Best Performing Stocks in 2017

7.      INTBREW Declares N52.20 mln Loss in Q2''17 Results,(SP:N7.35k)

8.     INTBREW Pre-tax and Post-tax Losses Widened to –N1.2bn and –N1.4bn Respectively in Q2 2018 Results


Related News