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Home People Profiles

Meet the CEO of Nigerian company with the highest share price

Emmanuel Abara Benson by Emmanuel Abara Benson
December 11, 2018
in Profiles, Spotlight
MD/CEO of Nestlé Nigeria appointed second VP of NECA

Mr Mauricio Alarcon, Managing Director and CEO of Nestlé Nigeria Plc

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When it comes to investing in the Nigerian capital market, investors are always interested in buying stocks that offer them some degree of assurance — guaranteeing that their investments will continually appreciate and yield dividends. A typical example of such stocks is Nestle Nigeria Foods Plc, which closed trading on the Nigerian Stock Exchange (Monday) at N1,485. The company’s Chief Executive Officer, Mr Mauricio Alarcon, is our corporate personality of the week.

Over the last few years, Mr Alarcon has been one of the growing number of foreign expatriates who are running the affairs of some of Nigeria’s major companies. As the CEO of Nestle Nigeria, it is his job to do everything possible towards ensuring all round success at the company.

Now, before we let you in on everything his high profile job entails, it is important to briefly point out that Nestle Nigeria Foods Plc has, for a long time, been a model company. Its product quality, branding, consistent growth, and of course the value of its share price, have been a source of fascination to anyone who is interested in the Nigerian capital market. So, how has Mr Alarcon been able to maintain this legacy? Let’s get in on it together.

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A well trained and well rounded professional

Mauricio Alarcon, who is originally from Mexico, was born in 1973.
He is an alumnus of the prestigious Manchester University in the United Kingdom where he studied Engineering, Manufacturing and Management between 1992 and 1997. He also underwent the Programme for Executive Development at IMD Business School, graduating in 2015.

Made for Nestle: A look at his twenty plus years of service in Nestle’s numerous global operations

Mr Alarcon’s foray into Nestle began in September 1999 when he joined Nestle Mexico as an Area Sales Manager. For eleven months, he worked this position before he was promoted to the position of Senior Brand Manager in July 2000.
Altogether, he worked for four years and seven months at Nestle Mexico before moving on, in 2004, to the Nestle Headquarters in Switzerland where he was a Marketing Advisor until May 2005.
Between May 2005 and January 2014, Mr Alarcon was appointed to key positions in Nestle’s ice cream business in places such as Switzerland, Australia, and Egypt.
He was Country Manager at Nestle Cote d’Ivoire from September 2014 to May 2016.
Mr Alarcon was also the Managing Director of Nestle Atlantic Cluster between June 2016 and September 2016. Note that this cluster comprises Senegal, the Gambia, Guinea, and Cote d’Ivoire.

His current position as the Chief Executive Officer of Nestle Nigeria Plc took effect on October 1st, 2016.

How well has Nestle Nigeria Plc performed under his leadership?

At the end of the 2017 financial year, Nestle Nigeria reported an impressive performance. Revenue had increased from N181 billion in 2016 to N244 billion in 2017. In the same vein, profit after tax jumped from N7.9 billion in 2016 to N33.7 billion.

So far in 2018, the company’s recently released third quarter 2018 financial report shows that revenue increased from N185 billion in 2017 to N203 billion in 2018. This represents a 9.72% increase year on year. Profit after tax also rose from N22.9 billion in 2017 to N33.1 billion in 2018, representing a 44.5% increase year on year.
Please note that while Nestle Nigeria’s share price has been performing well, for the most part, it did slump to a five-year low sometime in August 2017, when it traded at N591.95. According an earlier analysis by Nairametrics, this situation was linked to a number of factors, including a lack of portfolio inflows. In any case, it’s good to see that this has long been resolved.

A look at the CEO’s remuneration

It is no surprise that Mr Alarcon is one of the highest paid business executives in Nigeria. According to information contained in the company’s 2017 financial report, his executive compensation was to the tune of ₦104.8 million.

In conclusion, as Mr Alarcon continues to do well for himself, it is expected that his career will serve as inspiration to many young and aspiring business executives.


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Tags: CEO of Nestle NigeriaMauricio AlarconNSEOn the Money
Emmanuel Abara Benson

Emmanuel Abara Benson

Emmanuel Abara Benson is an experienced business reporter and editor. He currently edits articles at Nairametrics. Reach him via email on Emmanuel.abara@nairametrics.com and follow him on Twitter @Mr_Abara for his personal opinions.

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Comments 1

  1. Jenny says:
    July 17, 2021 at 10:06 pm

    Why is your company not paying my husband he has been with nestle for long and they are not paying he has family he can’t take care of our 4year old daughter has been at home without going to school because no money to enroll her my 2month old son we can’t even afford money for diapers for him talk more of food and my husband has refused to leave the company because of the love he has for the company still they are not appreciating him he has been working as a promoter for nestle for more than 5years now what’s happening please

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