Key Highlights
- The Board of Directors of Unilever Nigeria has approved the appointment of Mr Tim Kleinebenne as Managing Director of the company.
- The appointment follows the resignation of Mr. Carl Raymond R. Cruz as Managing Director with effect from 4 May 2023 after the Annual General Meeting.
- The Company recorded a turnover of N88.5 billion in 2022 which represents 26% topline growth compared to the N70.5 billion turnover recorded in the corresponding year in 2021.
The Board of Directors of Unilever Nigeria Plc has announced the appointment of Mr. Tim Kleinebenne as Managing Director with effect from 5 May 2023
The appointment follows the resignation of Mr. Carl Raymond R. Cruz as Managing Director with effect from 4 May 2023 after the Annual General Meeting.
This was contained in the company’s notice to the Nigerian Exchange Limited obtained by Nairametrics.
The statement signed by Mrs. Afolasade Olowe Senior Legal Counsel & Company Secretary noted that by a Resolution of the Board of Directors of Unilever Nigeria Plc at its Board meeting held on 20 April 2023 the Board considered and approved the resignation of Mr Carl Raymond R. Cruz as Managing Director with effect from 4 May 2023 after the Annual General Meeting.
- “The Board of Directors wishes Mr Cruz all the very best in his future career and would like to express their sincere gratitude to him for his outstanding work which delivered significant rises in both turnover and profit and set Unilever Nigeria on a path to sustainable and profitable growth after steering the company through the difficult years of the COVID-19 pandemic,” the statement said.
The company noted that on the recommendation of the Governance, Remuneration and Risk Management Committee of the Board of Unilever Nigeria Plc, the Board also considered and approved the appointment of Mr Tim Kleinebenne as Managing Director of Unilever Nigeria Plc with effect from 5 May 2023.
- “The Board warmly welcomes Mr. Tim Kleinebenne and also wishes him all the very best in his new role,” the company noted.
Profile of Kleinebenne
According to the company, Kleinebenne graduated in Business Economics from the University of Hamburg in Germany and is a highly experienced General Manager and has 31 years of international experience in the Fast-Moving Consumer Goods industry at Unilever.
This includes senior sales and marketing roles as well as over 10 years as Managing Director of Unilever businesses, two of which were publicly listed.
Mr. Kleinebenne is currently Managing Director of Unilever Côte d’Ivoire and has also served as Managing Director of Unilever Ethiopia, where he established the business and built it into a leading local consumer goods manufacturer, and as Managing Director of Unilever Caribbean.
What you should know
Unilever Nigeria Plc recently released its audited report for the year ending 31st December 2022.
The Company recorded a turnover of N88.5 billion in the year under review which represents 26% topline growth compared to the N70.5 billion turnover recorded in the corresponding year in 2021.
The company recorded a gross profit of N31.1 billion for the year ended 31st December 2022 which is 53% up versus N20.3 billion reported for the same period last year.
The result showed a profit for the year from continuing operations of N4.4 billion for the year ended 31st December 2022 compared to a profit for the corresponding year in 2021 of N0.7 billion which is 549% up versus 2021.
Overall, Unilever recorded a net profit of N4.4 billion for the year ended 31st December 2022 compared to a profit for the corresponding year in 2021 of N3.4 billion (including profit from discontinued operations)
Speaking on the results, the Managing Director, Carl Cruz, in a statement said, “Unilever Nigeria remains focused on the delivery of its 4G growth model of competitive, consistent, profitable, and responsible growth. Unilever is pleased with its performance progress riding on the pillars of operational efficiency, cost optimization, purposeful brands, and increasing market share across key categories,”
“Unilever Nigeria will continue to strengthen its operations in the country to meet citizen’s needs in health and hygiene through our brands and products,” he added.
