CORPORATE NEWS: DIAGEO rethinks on Guinness Nigeria; Board changes at LA Farge Africa and Honeywell Four Mills PLC.

GUINNESS NIGERIA PLC: DIAGEO PLC RETHINKS.

Diageo PLC has reconsidered its plans  to increase its controlling interest in Guinness Nigeria PLC by  making offer to acquire additional 15.7%.

According to a release signed by Rotimi Odusola esq, the company secretary of Guinness Nigeria, a letter to this effect has been received from Guinness Overseas PLC, the wholly owned subsidiary through which the offer was to come to shareholders.

According to the notice, the rethink is not unconnected to the current business environment in Nigeria although Diageo remains optimistic about its investment in Nigeria and  the prospects of the economy.

Guinness Nigeria PLC had announced September 9 the potential offer Diageo PLC had planned to make for the additional holding but now says, a review of developments in the last 12 months necessitated rethink.

LA FARGE AFRICA GETS NEW CFO

LA Farge Africa, Nigeria's pioneer cement maker, has appointed Mr Bruno Bayet to replace Mr Anders Kristiansson as the company's chief finance officer (CFO).

According to company secretary, Uzoma Uja esq, Mr Kristiansson had resigned his appointment with effect from September 30.

The new CFO, Bruno holds Business engineer degree from Universte Catholique de Lourain-La-Neuve in Belgium and an MBA  from Georgetown University specialising in financial risk management.

Between 1998 and 2005, he was manager, corporate finance at Pricewaterhousecooper before moving to Groupe Brusselles Lambert till 2011 as senior analyst.

Before joining La Farge in 2014, he was also the CFO of Enterprise Generals Malta Forrest in Democratic Republic of Congo from 2011 to 2013 and then a director of Ashaka cement PLC between April 2014 to April 2016.

Apart from being appointed CFO, he has also been nominated as strategic director for La Farge Nigeria.

HONEYWELL FLOUR MILLS DIRECTOR RESIGNS.

Honeywell Flour Mills PLC has formally announced the resignation of Dr Teddy Ngu as its director with effect from September 29, 2016.

According to the notice to that effect, Dr Ngu was relocating to the United States of America hence his resignation.

However, the resignation will be tabled before the board during its quarterly meeting in December for formal acceptance.

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