Berger Paints Plc in a notice to the Nigerian Stock Exchange (NSE) has announced the appointment of Abi Ayida as its new chairman, Oladimeji Alo stepped down.
Alo decided to step down from the board to enable him attend to other commitments in the corporate world. His resignation took effect from the 7th of June 2018.
About Abi Ayida
Ayida holds a Bachelors degree in Economics from the University of Minnesota and a Masters’ Degree from Pennsylvania State University, USA. He has broad experience in the Banking, Insurance and Manufacturing Industries, both in the UK and Nigeria.
He is currently the Managing Partner for Vail Woodward Associate, International Business Development Consultants.
He was appointed a Non-Executive Director on 14th, December 1999.
Berger Paints Nigeria Plc
Berger Paints Nigeria Plc was incorporated in Nigeria as a private limited liability company in 1959 and converted to a public limited liability company in 1973.
The company is into the manufacturing, sales and distribution of paints and allied products.
Berger Paints shares are currently trading on the floor of the NSE. Revenue increased from N788 million in 2017 to N834 million in 2018. Profit before tax, however, dropped from N129 million in 2017 to N103 million in 2018. Profit after tax also fell from N88.3 million in 2017 to N70 million in 2018.
Berger Paints is currently trading at N9.00 in today’s trading session.