• Monday, May 20, 2024
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Yemisi Ayeni resigns as director of Guinness Nigeria

Yemisi Ayeni resigns as director of Guinness Nigeria

Guinness Nigeria Plc, an alcoholic beverage company, has announced the resignation of Yemisi Ayeni from its board of directors, effective August 31, 2024.

This was revealed in a statement filed with the Nigerian Exchange Limited on Friday.

“This is to notify the Nigerian Exchange Limited and other stakeholders about the resignation of Ayeni from the Board of Guinness Nigeria Plc with effect from August 31, 2024,” the statement said.

It said Ayeni, who was appointed to the board on September 1, 2018, is a seasoned professional with over 39 years of solid experience in finance, accounting, fund management, strategic planning, and business leadership.

“Since her appointment, Ayeni has conscientiously served on the Board as a member of the Statutory Audit Committee and the Chair of the Finance, Audit and Risk Committee and the Special Projects Committee,” it added.

The board appreciated Ayeni for her leadership, professionalism, stalwart commitment, and strategic contribution to the Company as a valued Independent non-executive director.

BusinessDay reported on Saturday that despite the price increase, Guinness Nigeria reported an after-tax loss of N61.7 billion for the nine-month period ended March 31, 2024, from a profit of N5.9 billion in the same period of 2023.

The brewer recorded a 28 percent growth in revenue to N220.3 billion compared to N172.5 billion in the same period last year.

Adebayo Alli, managing director/CEO of Guinness Nigeria Plc, said in a statement that while the current macroeconomic environment will continue to present challenges, “I am confident in the resilience of our business and our ability to navigate the volatility. Our focus remains steadfast on innovation, and stepping up operational excellence to meet our consumers’ evolving tastes and preferences.”

“Furthermore, the company intensified its focus on consumer engagement and trade support, leveraging its digital platforms. Notably, categories such as non-alcoholic malt, ready-to-serve beverages, and international premium spirits witnessed substantial revenue growth, underscoring the effectiveness of these strategies,” he said.

Earlier in May, Guinness Nigeria implemented a price increase on all its products which was ascribed to the rising cost of production and cost of doing business.