John Masunga has been appointed as the new CEO of Guinness Nigeria, a subsidiary of Diageo.
A press statement says the Board of Guinness Nigeria Plc announced the appointment of Mr Musunga as its incoming Managing Director and Chief Executive Officer effective November 1, 2022.
Company Secretary Rotimi Odusola said Musunga’s appointment followed the notice of retirement of Baker Magunda who has served the company for over 23 years.
Magunda is also said to have resigned from his role as the Managing Director and member of the Board of the company with effect from October 31, 2022.
Musunga is the current managing director at Kenya Breweries Limited.
Prior to this, Musunga had a highly successful career at GSK, working at senior levels in Eastern Africa, Southern Africa and Europe.
Among other industry roles, he served as a Non-Executive Director for the Vision 2030 Board in Kenya, chaired the Kenya Association of Pharmaceuticals Industry and the Kenya HIV/AIDS Business Council
Since joining KBL, he led the business recovery through Covid-19, achieving phenomenal growth.
He has over twenty-five years' experience in senior local, regional and global roles including Managing Director and General Manager of GSK's Kenya and East Africa Business as well as the Head of Supranationals for GSK Global Vaccines.
KBL praised him saying he is a seasoned leader with local and international leadership experience and joined the company 19 months ago.
The company further said his predecessor would be celebrated and remembered for leading the remarkable return to profitability for Guinness Nigeria in a very challenging covid-era.
The Brewing giant's last published audited results for the period ended 30 June, 2022 revealed an impressive 1,147 per cent increase in profit after tax, with double digit revenue growth across all key metrics, despite the challenging macro environment.
Guinness Nigeria Board Chair Dr Omobola Johnson said Mr Magunda is an inspiration for his service, strong and passionate leadership, strategic focus and contribution to the growth and success of the company.
"Baker is an inspiring leader and will be missed by us all. We wish him all the best in his future endeavours." She said.
She said the Board is optimistic that the leadership of the Company would be further strengthened through Musunga's invaluable experience and passion in developing strong talent and in driving overall business transformation through sustainable growth and delivery of stakeholder value.