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NB Plc MD Set For New Role In Heineken Group

Nigerian Breweries Plc hereby announces that its Managing Director/CEO, Mr. Nicolaas Vervelde, will complete his assignment in the Company on the 16th of June, 2017 to take up a new role within the HEINEKEN Group outside Nigeria. In anticipation of and preparatory to assuming his new role, Mr. Vervelde submitted a letter of resignation to the Board of Directors (“the Board”) at the Board Meeting held on the 3rd of May, 2017. The Board accepted the resignation which will take effect on the 16th of June 2017 and has informed The Nigerian Stock Exchange of the development.

Having previously served on the Board as a Non-Executive Director, Mr. Vervelde re-joined the Board on the 1st of August, 2010 as Managing Director/CEO and has successfully managed the affairs of the Company ever since. The Company has recorded several laudable milestones with Mr. Vervelde at the helm of affairs including the expansion of its operations through the acquisition of additional Breweries. Through a twin agenda of Cost Leadership and Market Leadership supported by innovation, the Company also expanded its portfolio of brands while equally focusing on internal efficiencies. The Company ensured a consistently good return on investment for its Shareholders throughout his tenure despite the recent challenges of the operating environment.

The Board has immediately commenced the process of identifying a replacement for Mr. Vervelde and will make an announcement in that regard in due course.

Kufre U. Ekanem
Corporate Affairs Adviser
Nigerian Breweries Plc
+234 7038992759; kufre.ekanem@heineken.com

About Nigerian Breweries PLC:
A member of the HEINEKEN Group, Nigerian Breweries Plc is the pioneer and largest brewing company in Nigeria. Incorporated in 1946 as "Nigerian Brewery Limited", the company made history in June 1949 when the first bottle of STAR lager beer rolled out of its Lagos brewery bottling line. Today, it has a rich portfolio of 19 high-quality brands (such as Heineken, Desperados, Maltina, Life, Amstel Malta, Gulder, Fayrouz and Legend) produced from 9 breweries and 2 malting plants which are distributed nationwide. Nigerian Breweries is also a recipient of several awards and recognition in other areas of its operations including product quality, marketing excellence, productivity and innovation, health and safety, corporate social responsibility, and sustainability. To learn more, visit the Nigerian Breweries website: nbplc.com

PRESS CONTACT:

PRESS CONTACT:

Sade Morgan
Corporate Affairs Director
Sade.morgan@heineken.com

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