Nestlé Nigeria Plc has appointed Wassim Elhusseini as its new Managing Director

Photo: Businessday

*Records N22bn profit after tax in first half of 2020

Mr Elhusseini takes over from Mauricio Alarcon who has been appointed as the Market Head of Nestlé Central and West Africa Region comprising 25 countries with head office in Ghana.

A statement issued recently by Victoria Uwadoka, Corporate Communications and Public Affairs Manager, Nestlé Nigeria Plc stated that the appointments would take effect from September 1.

“Notwithstanding this new appointment, Alarcon will remain on the Board of Nestlé Nigeria Plc as a Non-Executive Director.

“The Board expresses its appreciation of Alarcon’s outstanding achievements in all ramifications since he was appointed as the Managing Director of the Company in October 2016 and is pleased that the Company will continue to benefit from his experience.

“Mr Wassim Elhusseini, currently the Country Manager and Sales Director of Nestlé Middle East & North Africa (MENA).

“Elhusseini joined Nestlé Kuwait in 2002 as Channel Category Sales Development (CCSD) Manager for Coffee & Creamers. In 2015, he moved to Nestlé Middle East to lead the CCSD Unit.

“Appointed Sales Director of Nestlé Middle East in 2016, Elhusseini positively contributed to the business from a functional and leadership perspective’’.

The company further stated that it had notified its shareholders, the Nigerian Stock Exchange and the investing public of the appointments.

In another development, Nestlé Nigeria Plc has announced its financial results for the half year ended June 30, 2020, recording a revenue of N 141.0 billion for the period January to June 2020.

This is against a revenue of N 141.9 billion during the same period in 2019.
The company reported a profit after tax of N 21.8 billion during the first half of 2020.
Commenting on the half year 2020 results, Mauricio Alarcon, Managing Director of Nestlé Nigeria said: “These results illustrate the resilience of our company.

“Amidst the on-going COVID-19 pandemic, Nestlé Nigeria has delivered consistent results in terms of revenue while exchange rate variations and increase in the price of some key materials have affected profitability.

“While it is still early to assess the impact of this crisis, we are fully confident in our people’s agility and deep commitment to overcome challenges and continue to deliver value for our shareholders and for society.

“Going forward, we will remain focused on three key priorities which include safeguarding the health and wellbeing of our people, ensuring business continuity to meet consumer needs and supporting our communities,’’ he said.

Mr Alarcon said that Nestle Nigeria recognizes its responsibility to bring affordable, safe and high-quality nutrition to everyone.
Source: premiumtimesng.com