Guinness Nigeria Assigns Girish Sharma As MD/CEO As Tolaram Finalises Acquisition

Guinness Nigeria Plc has appointed Mr. Girish Sharma as its new Managing Director (MD)/Chief Executive Officer (CEO) following the completion of a share sale agreement with Tolaram.

This marking a significant leadership transition for the company. The appointment comes as Atalantaf Limited (Diageo), the previous majority shareholder, finalises the sale of its shares in Guinness Nigeria to N Seven Nigeria Limited, a subsidiary of Tolaram.

Alongside the appointment of Mr. Sharma, Guinness Nigeria announced several other key board changes. Mr. Harkishin Aswani has been named Vice Chair and Non-Executive Director, while Messrs Deepak Singhal and John Musunga join the board as Non-Executive Directors. These appointments coincide with the resignations of Mr. Adebayo Alli, the outgoing MD, Ms. Joan Hodgins, Vice Chair & Non-Executive Director, and Non-Executive Directors, Mrs. Grainne Wafer and Mr. Leo Breen.

In a recent statement released through the Nigerian Exchange Limited (NGX), the company confirmed that the board changes became effective on September 30, 2024, upon the completion of the share purchase from Guinness Overseas Limited and Atalantaf Limited (Diageo) by N Seven Nigeria Limited (Tolaram).

Diageo, in a separate announcement, reaffirmed its commitment to maintaining a presence in Nigeria. The global beverage giant will continue to produce and distribute Guinness and other local brands through a license and royalty agreement, allowing it to uphold its flexible and efficient beer operating model in the Nigerian market.

The completion of the acquisition, initially announced in July 2024, marks a new chapter for Guinness Nigeria as it integrates with Tolaram, a company with extensive experience in the Nigerian consumer market.