Vervelde Steps Down as MD of Nigerian Breweries

The Managing Director of Nigerian Breweries, Nicholaas Vervelde, has resigned.

It is not yet known if his resignation is connected with the police investigations of some officials of the company, including Vervelde’s wife.

Some management staff of the company were invited by the police, in January, for questioning, at the Force Headquarters, Abuja, over a petition by a former supplier with the company, TMDK Oil Traders Limited.

While reacting to the development, the company said at the time: “It appears that the petition is targeted at persons connected to Nigerian Breweries, including the wife of our managing director.”

It further explained that while TMDK complained of ‘bias’ when it bid for a new contract, Nigerian Breweries’ auditors concluded otherwise after an internal investigation.

Mr. Vervelde submitted his letter of resignation to the Board of Directors at the Board Meeting held on Wednesday.

In a statement posted on the Nigerian Stock Exchange website, on Thursday, Nigerian Breweries said Vervelde would take up a new role within the Heineken group outside Nigeria.

“In anticipation of that and preparation to take up a new appointment, Mr. Vervelde submitted a letter of resignation, from the Board and the company, to the Board of Directors (“the board”) at the Board Meeting held yesterday, the 3rd of May, 2017,” said the statement by Uaboi Agbebaku, the legal adviser to Nigerian Breweries.

Mr. Ververlde joined the company in August 2010 as Managing Director, and until his resignation, served as the company’s Chief Executive Officer.

“The Board has immediately commenced the process of identifying a replacement for Mr. Vervelde and will make an announcement in that regard in due course,” the statement added.

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