In a notice to the Nigerian Stock Exchange (NSE) today, PZ Cussons Plc has announced the resignation of its Chief Financial Officer (CFO) Mr David Petzer. His resignation takes effect from 19th February 2018. Petzer joined the company in September 2012 and is resigning to pursue personal endeavours.
The company has also announced the appointment of Pedro Barreto as the Chief Financial Officer effective 20th February 2018. Barretto has worked in several multinational corporations across Africa, Asia and Europe.
Prior to his appointment, he was Chief Financial Officer of the Ambrion Group.Prior to this, he was the Chief Financial Officer at Pepsi Africa and held several positions in financial control and finance at CIMPOR India. He is fluent in several languages including English, Spanish and French.
Results for the half year ended November 2017, show turnover increased from N33 billion in 2016 to N41 billion in 2017. The company also returned to profitability as it made a profit after of N589 million in 2017 compared to a loss after tax of N289 million in 2016.
PZ Cussons was incorporated in Nigeria on December 4 1948, but was listed on the Nigerian Stock Exchange in 1972. The company is a subsidiary of PZ Cussons Plc, Manchester, UK. PZ Cussons Nigeria is into the sales and manufacture of household and consumer goods as well as electronic appliances. Some of the popular products made by the company include Premier soap, Rubb, Canoe, Morning Fresh, Zip and the Haier Thermocool line.
PZ is currently trading at N23.30 in today’s session on the NSE. Year to date, the stock is up 14%.