International Breweries Plc has announced the resignation of Igwe Peter Anugwu and Ms. Abiye Tobin-West, as Non-Executive Directors of the Company, ANAMBRA PEOPLE reports.
In a disclosure signed by the Company Secretary, Muyiwa Ayojimi, the resignations are with effect from 31 August 2022.
In line with Corporate Governance prescriptions, the board is expected to exercise the powers conferred on it by the Company’s Articles on new appointments to fill the casual vacancies.
The disclosure read, “International Breweries Plc (“the Company”) hereby informs Nigerian Exchange Limited “NGX” and the investing public of the following resignations from the Board of Directors of the Company,
“The resignations of Igwe Peter Anugwu and Ms. Abiye Tobin-West, as Non-Executive Directors of the Company, has been accepted by the Board. The resignations are with effect from 31 August, 2022.
“The Board is appreciative of the fiduciary role and selfless contributions of Igwe Peter Anugwu and Ms. Abiye Tobin-West to the Company particularly from the pre-merger and post-merger era of the Company and hereby thank and wish them well on their retirement.
“The Board will exercise the powers conferred on it by the Company’s Articles and in line with Corporate Governance prescriptions on new appointments to fill the casual vacancies created by these exits in due course.”
The company made a profit of N336 million in the first half of the year 2022. The amount reflects a rebound from the loss record of N13.9 billion in the same period last year.
Revenue for the year was up from N81.96 billion in H1 2021 to N111.40 in H1 2022. International Breweries’ share last sold at N5.1 naira as of Friday 12th 2022 while its market capitalization stood at N137 billion.
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