By InvestAdvocate
Lagos (INVESTADVOCATE)-Brewer, Guinness Nigeria Plc on Tuesday said Peter Ndegwa has been appointed new managing director (MD) of the company to replace Soren Lauridsen, who was previously announced following John O’Keeffe new role as President, Diageo Africa with effect from 1st July 2015.
Guinness in an issuer’s announcement to the Nigerian Stock Exchange (NSE) said Lauridsen decided to leave his position as MD for Guinness Nigeria due to personal, family related reasons, effective end June.
The brewer says Ndegwa holds an MBA from the London Business School and a Bachelor’s degree from the University of Nairobi and is also a qualified accountant. He has over 10years working experience in East Africa and the United Kingdom with the global accountancy and consulting firm, PricewaterhouseCoopers. Peter joined Diageo in 2004 in East Africa as strategy director for East Africa Breweries Limited (EABL), a Diageo’s subsidiary.
He was then appointed sales director in 2006 and Group Finance Director in 2008. EABL is a high profile GBP1.8bn market capitalization locally listed business with a turnover of GBP470m and 1,500 employees.
According to Guinness Ndegwa was appointed MD of Guinness Ghana Breweries Limited in 2011 with end to end (supply and demand) accountability for the P&L and commercial priorities of the business. He has overseen a complete reframe of the business despite some very tough external operating conditions – substantial currency devaluation, slowing GDP growth and high cost of doing business.
He is a highly effective and accomplished business leader with a proven track record in strategic and commercial leadership spanning over 20years. He excels in orchestrating strategic change, driving organisational and team alignment and building momentum around business priorities and delivering superior business results. He leverages both his natural authenticity and strong diverse experience across a set of functional areas (strategy, sales, finance, consulting) to create impetus in organisations and teams. He has been particularly successful in creating highly engaged teams and organisations.
Ndegwa is excited at the opportunity to lead a truly iconic business like Guinness Nigeria at this time and looks forward to working with the board, executives and management of the company to deliver its performance ambition.
The company disclosed that O’Keeffe will continue as a non-executive director of Guinness Nigeria and, as the Diageo executive responsible for Diageo Africa business, will continue to stay involved with the business.
Guinness shares on Tuesday grew 1.02 percent to N162.81 from N161.17 traded the previous session gaining N1.64 per share.
