Nigerian Breweries Announces Board Changes

Nigerian Breweries Plc, has announced changes to the composition of its board of directors with the resignation of the Chairman, Asue Ighodalo and the completion of the tenure of Ndidi Nwuneli as an Independent Non-Executive Director.

The announcement was contained in a notification to the Nigerian Exchange Limited (NGX) signed by the Company Secretary/Legal Director, Uaboi Agbebaku following the Board Meeting of the company held in Lagos.

Ighodalo informed the Board at the meeting, of his decision to offer himself for public service.

“He will be resigning from the Board and in his capacity as the Chairman of the Board in line with proper corporate governance practice, on December 31, 2023, “NB said in a statement.

Speaking on the announcement, outgoing Nigerian Breweries’ Board Chairman, noted that decision comes with the mixed emotions of a painful sacrifice made to enable his full devotion to the new cause.

“It is with heartfelt regret that I announce my resignation as Chairman of the Board of Nigerian Breweries Plc effective December 31, 2023. After extensive deliberations, I have decided to offer myself for public service to our dear country. The decision comes with the mixed emotions of a painful sacrifice made to enable my full devotion to the new cause. It is my pride to have been part of such a formidable organization well positioned to meet the opportunities and challenges in Nigeria’s ever-changing business environment, ”he said.

NB said Nwuneli, who was appointed Non-Executive Director of the company 9 years ago, will be stepping down from the role effective December 31, 2023, following the completion of her tenure.

The company equally announced the appointment of the longest-serving Director, Sijbe “Siep” Hiemstra, as Chairman of the company in an interim capacity effective January 1, 2024, pending the appointment of a substantive chairman.