Post Views: 359 The board of Ab Inbev majority owned International Breweries Plc, on Tuesday announced the reconstitution of its board of director, in...
The board of Ab Inbev majority owned International Breweries Plc, on Tuesday announced the reconstitution of its board of director, in the aftermath of last year’s fusion of Intafact Beverages Limited and Pabod Breweries Limited.
The move, which is to allow for representatives of the merged companies on the board of the new International Breweries saw the appointment of two traditional rulers: the Obi of Onitsha, Igwe Nnaemeka Achebe and Igwe Peter Nwokike Anugwu of the ancient Mbaukwu kingdom, also in Anambra State. While Igwe Anugwu is non-executive director, Igwe Achebe replaces Sunday Akintoye Omole, who recently stepped down as board chairman, following the merge.
A statement to the Nigerian Stock Exchange (NSE) by Muyiwa Ayojimi, the Company Secretary/General Counsel, says Omole however remains on the board as a Non-Executive Director, along with Mr. Gbenga Awomolo.
Also on the board as Non-Executive are Michael Onochie Ajukwu; Abiye Tobin-West, an Economist, tax and management expert; Phillip Redman, who joined SABMiller, now AB Inbev in 2012 as an Innovation Manager in the London Group office. He is currently General Manager at Accra Breweries Limited.
Also on the board are: Godwin Oche, who is currently the National Sales Director of International Breweries, who joined Intafact Beverages Limited in 2010; just as Zuber Momoniat, the Finance Manager at PABOD Breweries Limited, from where he was appointed Finance Director for International Breweries Plc. Annabelle Degroot is now Managing Director, a position she held at Zambia Breweries Plc before joining IB Plc.
Before the fusion, the two largest shareholders of International Breweries’ issued and fully-paid share capital as at December 31, 2017. While Brauhaase International Management GMBH, a portfolio investor held 2.377bn units or 27.66%, AB InBev Nigeria Holdings BV had 4.072bn shares or 47.37%.
Other significant shareholdings were by “state and local government,” 7.03%; corporate investors, 10.39% and individuals, 7.44%.
The company is expected to advise on the post-merger holdings in due course.