Ighodalo resigns as Nigerian Breweries chairman, replacement named

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Nigerian Breweries Plc has announced changes to the composition of its board of directors with the resignation of the chairman, Mr Asue Ighodalo.

The company’s secretary, Mr Uaboi Agbebaku, made this known via a notification to the Nigerian Exchange Ltd on Friday in Lagos.

Agbebaku said Ighodalo informed the company of his decision to resign and offer himself for public service.


He said Ighodalo would be resigning from the board and in his capacity as chairman, in line with proper corporate governance practice, on December 31, 2023.

Agbebaku quoted Ighodalo as saying that the decision came with mixed emotions, of a painful sacrifice to enable his full devotion to the new cause.

“It is with heartfelt regret that I announce my resignation as the Chairman of the Board of Nigerian Breweries Plc effective Dec. 31, 2023.

“After extensive deliberations, I have decided to offer myself for public service to our dear country.

“It is my pride to have been part of such a formidable organisation well-positioned to meet the opportunities and challenges in Nigeria’s ever-changing business environment,” he said.

Ighodalo, 64, who has declared his intention to run for the governorship seat of Edo State in next year’s elections also serves as Chairman of Sterling Bank, Director, Nigerian Sovereign Investment Authority and Chairman, the Nigerian Economic Summit Group.

Agbebaku also announced the appointment of the longest-serving director, Sijbe Hiemstra, as the chairman of the company in an interim capacity effective January 1, 2024, pending the appointment of a substantive chairman.

He stated that during the transition period, Hiemstra would steer the affairs of the board and oversee the process of appointing a substantive chairman.

“We also announce the completion of the tenure of Ndidi Nwuneli as an independent non-executive director of the company, following the completion of her tenure.

“The board also informs of the appointment of Stella Ojekwe-Onyejeli as Non-Executive Director to fill a vacancy on the Board, effective January 1, 2023.

“Ojekwe-Onyejeli brings to the board years of knowledge and experience as a risk manager with a demonstrated history of working in the financial services industry and skilled in enterprise risk management, business planning, internal audit, and analytical skills.

“She currently serves on the boards of Coronation Insurance Plc and Rand Merchant Bank, amongst others,” he said.