Diageo-owned Guinness Nigeria Plc has announced that Baker Magunda, currently the Managing Director of Meta Abo Brewery in Ethiopia, as their new CEO.
Magunda will take over from Peter Ndegwa, who will be stepping down at the end of the 2018 Financial Year after three years in office. Ndegwa will be taking up a new role as the Managing Director, Continental Europe and Russia, a member of the Diageo Group, the company also announced.
“Ndegwa has been at Guinness Nigeria for nearly three years and has overseen the recent transformation at the company, including the successful rights issue and implementation of the productivity programme,” according to a statement released by the company.
“Recent third quarter financial performance has shown the improvement that these projects are delivering.
“Baker Magunda will join Guinness Nigeria from Diageo-owned Meta Abo Breweries in Ethiopia. Under Magunda’s tenure, Meta Abo has seen the launch of the Guinness brand in the country and a strong innovation pipeline of brands brought to the market. He has nearly 20 years’ experience in the consumer goods and alcohol industry. He has worked across in Uganda and Kenya, as well as Ethiopia and the Sudan.”
Speaking on the development, the Chairman, Guinness Nigeria Plc, Mr. Babatunde Savage, said, “I will like to thank Peter (Ndegwa) for his transformational work over the past few years; he has led the business through challenging times and taken us forward. It is great to see him move on within Diageo. I will also like to use this opportunity to welcome Baker to the role. I look forward to working with him.”