Business

Guinness Nigeria changes CEO again

Published

7 years ago

May 3, 2018

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Guinness Nigeria Plc has announced the appointment of Baker Magunda as its new CEO. The former CEO, Peter Ndegwa will take a new role at Guinness parent company, Diageo Plc.

This is Guinness fourth CEO in 5 years. In 2015, it appointed Mr. John O’Keefe as CEO taking over from Seni Adetu, a Nigerian. Within 6 months of taking the appointment, John was promoted President, Diageo Africa, making room for Peter Ndegwa (Kenyan) to take over.

Baker Magunda will join Guinness Nigeria from Diageo owned Meta Abo Breweries in Ethiopia. Under Baker’s tenure, Meta Abo has seen the launch of the Guinness brand in the country and a strong innovation pipeline of brands brought to market.

He has nearly twenty years’ experience in the consumer goods and alcohol industry and has worked across Africa in Uganda and Kenya as well as Ethiopia and Sudan.

The new CEO had his first degree at Makerere University in Uganda and Makerere University Business School. He started his career as a Market Development Manager at Coca-Cola Sabco century bottling company from 1996 till 1999.

Magunda was Managing Director Uganda Breweries Limited from February 2006- July 2008, Managing Director East African Breweries Limited, a position he held from July 2008 until July 2012.

He was also at a time Chairman and Managing Director, Diageo Guinness Cameroon, Managing Director/CEO Meta Abo brewery [A Diageo Company]. He was appointed Managing Director, Diageo, Ethiopia and the Indian Ocean in July 2017.

Commenting on his new role, Mr. Magunda noted: “I am delighted to be joining Guinness Nigeria at this time. The team has worked hard to deliver change and progress in a complicated economic environment. I look forward to continuing Peter and the team’s work when I formally join. There is a lot to go after and as Nigeria’s only total beverage alcohol player, there is a great opportunity.”

In 1963, Ikeja in Lagos Nigeria was chosen as the first location outside the British Isles to brew the Guinness brand. Two years later, in 1965, Guinness Nigeria was listed on the Nigerian Stock Exchange. Its share price is currently trading at N103.00 on the floor of the exchange.