International Breweries Nigeria PLC has announced the resignation of Mr. Carlos Coutino as Managing Director and member of the Board, effective March 1, 2026.
The announcement was contained in a notice signed by Company Secretary Temitope Oluwatosin, and addressed to shareholders, the investing public and Nigerian Exchange Limited (NGX).
Mr. Coutino had joined the company in 2018 as National Sales/Trade Marketing Director before quickly rising through the ranks.
What the statement is saying
According to the statement, the company board expressed gratitude for the outstanding performance recorded by the outgoing MD.
“The Board is grateful for Coutino’s outstanding performance as he transits to another leadership role within the ABInBev business and wishes him the best in his future endeavors,” the company said in its statement.
Mr. Coutino was appointed Managing Director and Business Unit President on January 1, 2023, where he made a significant impact on the company’s trajectory.
Under his leadership, International Breweries achieved its highest-ever sales volume and market share, while returning to profitability after six years of restructuring. He also championed employee engagement, with the company attaining the highest engagement score in Nigeria.
Beyond commercial success, Mr. Coutino reshaped ABInBev’s digital landscape in Nigeria.
He spearheaded the development of a best-in-class digital product built with local talent, which has since been scaled across six countries.
This innovation remains a testament to his vision and influence.
Nicholas Kade appointed as new Managing Director
The statement noted that the Board has approved the appointment of Mr. Nicholas Kade as Managing Director and member of the Board, effective March 1, 2026.
“The Board also approved the appointment of Mr. Nicholas Kade as a member of the Board and as the Managing Director of the Company with effect from 01 March 2026.”
Prior to this appointment, Mr. Kade served as Sales Director of International Breweries Plc, overseeing national sales strategy, commercial execution, and performance delivery in a complex, high-growth market.
Mr. Kade brings over 15 years of experience in driving growth and transformation across Africa.
He holds a bachelor’s degree and an honors degree in business management, as well as a Master of Commerce (with Distinction) from Stellenbosch University.
His academic achievements are complemented by a Postgraduate Programme in Business from GIBS Business School, University of Pretoria.
Proven track record in commercial leadership
Mr. Kade began his career at Anheuser-Busch InBev through its competitive Graduate Management Trainee programme, gaining a strong foundation in end-to-end commercial leadership.
He later held multiple Commercial Director roles in South Africa, where he was responsible for sales strategy, revenue growth, and leading diverse teams across regions.
He has a proven track record of driving customer experience transformation, implementing business enablement initiatives, and delivering sustainable commercial results.
What you should know
- International Breweries Plc reported a third-quarter pretax profit of N12.6 billion for the period ended September 2025, rebounding from a loss of N4.3 billion in the same period last year.
- The company’s nine-month pretax profit also recovered sharply to N74.2 billion, up from a N154.5 billion loss over the same period in 2024.
- Revenue for the quarter reached N131.5 billion, up 9.42% year-on-year, while nine-month revenue rose 37.6% to N472.5 billion, supported by strong sales of its brewed products.