Business
Nigerian Breweries’ majority investor in Nigeria, Kolawole Jamodu, to exit firm
Nigerian Breweries’ majority investor in Nigeria, Kolawole B. Jamodu, will exit the company after 14 years. He will officially leave the company on April 30, 2023.
Jamodu is the Chairman of Nigerian Breweries, a position after 14 years. Asue Ighodalo has been announced as his replacement.
The investor was first appointed as chairman on January 1, 2008. He led the Nigerian Breweries board through acquisitions and mergers between 2011 and 2014.
His exit from Nigerian Breweries was disclosed on Wednesday in a statement to shareholders and the capital market authority, Nigerian Exchange Limited (NGX).
As of December 31, 2022, Jamodu owned 1.14 million shares, worth N41.76 million, making him the single majority shareholder in Nigeria.
Read Also:Nigerian Breweries’ shareholders to earn N13.8bn
However, on the shareholder table, he trails behind Heineken Brouwerijen B.V and Distilled Trading International, as both firms hold 3.93 billion shares and 1.60 billion shares respectively.
Stanbic Nominees Nigeria Limited also own more shares (1.21 billion shares) than Jamodu, however, it is a share custodian, trading the shares on behalf of several unknown investors.
Meanwhile, after Jamodu notified the board of his retirement from the board, Asue Ighodalo, the current Sterling Bank chairman, was named as his replacement.
Ighodalo, who is also a non-executive Director on the Nigerian Breweries board, will become the chairman of the firm from May 1, 2023.
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