In its historic meeting, Champion Breweries Plc outlined a series of forward-thinking resolutions during its Annual General Meeting (AGM) that are set to reshape the company’s trajectory and enhance its long-term impact.
The AGM, presided over by Chairman Dr. Elijah Akpan, saw shareholders unanimously approve several resolutions aimed at bolstering the brewery’s governance and sustainability practices.
One of the most significant resolutions passed at the AGM was the re-election and appointment of new directors. Mr. Frederik Williem Kurt, Mr. Thompson S. B. Owoka, and Mrs. Helen Umanah were appointed as new directors of the company. This move marks a strategic decision to bring diverse expertise to the board and drive the company’s sustainable business agenda.
To enhance financial oversight, Champion Breweries Plc appointed Deloitte Touche Tohmatsu Limited as the external auditors for the year ending December 31, 2023. Additionally, the directors were authorized to determine the remuneration of the independent auditors for the same period.
The AGM also witnessed the election of shareholders’ representatives to the Audit Committee. Mr. Godwin A. Anono, Mr. Olatunde Olayemi, and Mr. Adebayo Oluwafemi were elected as shareholders’ representatives, while Mr. Thompson Owoka and Mr. Kevin Santry were nominated to represent the Board on the committee. This development ensures that shareholders have an active role in the company’s decision-making processes and fosters transparency and accountability.
In a stride towards environmental and ethical consciousness, Champion Breweries Plc made two significant resolutions under the special business category. The board was authorized to fix the remuneration of directors for the year ending December 31, 2023. This measure demonstrates the company’s commitment to fairly compensating its leadership while keeping sustainability at the core of its practices.
Furthermore, the company received a general mandate to enter into recurrent transactions with related parties for day-to-day operations, following the guidelines of Rule 20.8 of the Rulebook of the Nigerian Exchange Limited 2015: Issuers Rules. This mandate is set to enable Champion Breweries Plc to explore sustainable partnerships and alliances for its operations, thereby contributing to the broader economic growth of the community.
In a statement following the AGM, Managing Director Georgios Polymenakos expressed his gratitude to the shareholders for their overwhelming support and underscored the company’s unwavering commitment to sustainability.
“Today’s resolutions pave the way for a stronger, more responsible Champion Breweries. We are dedicated to delivering on our promise of driving growth while prioritizing environmental, social, and governance considerations,” he said.
As Champion Breweries Plc embraces its role as a catalyst for change within the brewing industry, the resolutions passed at the AGM signify a turning point in its journey towards a more sustainable and prosperous future. With a renewed focus on responsible leadership and stakeholder collaboration, the company sets a commendable example for the Nigerian corporate landscape and beyond.