By Ayomide Oriade
At a pre-AGM press conference where Seni Adetu’s tenure as Managing Director of Guinness Nigeria Plc which lapses in November 2014 was eulogized, it was time for stock-taking, as the Guinness board announced its intention to propose a dividend of N4.8billion for approval at the Annual General Meeting of Guinness Nigeria Plc, slated for 13th November in Calabar, Cross River State.
Disclosing this at the conference, Chairman Board of Directors Guinness Nigeria Plc, Mr. Babatunde Savage said the dividend of N4.8billion for the financial year 2014 translates to N3.20k per 50k share for the company shareholders.
He explained that “this is important because we need to conserve some funds for investment in the business and reduce interest cost,’ adding that “this decision will be the best for the shareholders in company.”
The chairman also acknowledged the effort of the outgoing Managing Director, Seni Adetu whose tenure is credited with innovative achievements. According to Savage, “Seni spearheaded and ensured the completion of the company’s capacity expansion project which has enabled the company to meet the demands for its brands across the country.”
The company under his leadership also experienced brand innovation with the launch of products in different brand sectors; especially the re-launch or Satzenbrau, alvaro soft drink, and of recent the wave making brand, Orijin.
Taking over the baton is Mr. John O’Keeffe who will be coming with strong knowledge of Guinness across the world. He has worked for Diageo for over 20 years during which he demonstrated his interest in the Guinness brand and other brands of Diageo. He was for many years the world Guinness brand ambassador and has worked in lots of emerging markets which include Jamica, Russia, and other Easter European countries as either marketing director of managing director.
