Zambia’s largest alcohol distributor by volume announced the resignation of its CEO effective 1st July 2021, according to a statement from Zambian Breweries.
“Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of Zambian Breweries PLC (“the Board”) wishes to announce the resignation of Mr Jose Moran as Country Director of the company effective 1st July 2021”, read a statement issued by Company Secretary Deborah Bwalya on 18 May 2021 by order of the Board.
According to statements attributed to the company, its Country Director Jose Moran will be leaving the business to take up a new appointment as Country Director of its parent company AB InBev’s Tanzania operations.
The Board has signaled its pride for the outgoing CEO who was a visible advocate for various social and business causes during his stay in Zambia. “The Board wishes to commend Mr Moran on his role in the last four years, during which time he has overseen continued investment and expansion of production, with a strong focus on sales and marketing, and a genuine implementation of the AB InBev Group’s Better World strategy through sourcing of ingredients from local farmers, water stewardship, and a high-profile responsible drinking campaign”.
Jose exits the company at the peak of the COVID pandemic in Zambia which has ravaged many company’s operating cost profiles. With businesses shutting down since the advent of the pandemic, Zambrew sales volumes and revenue only grew by 4 and 5 percent at half year 2020 (FY results not available). This resulted in a 16% drop in gross profit to K386 million. This was exacerbated by macro forces that saw K211 million in exchange losses.
At half year, Jose was faced with a company whose forward forecast indicated a loss after tax. The half year income statement indicates a drastic erosion of net cash generated from operations from K364 million in pre covid 2019 to K70 million in covid times.
The Board now looks to Ms Michelle Kilpin who starts her new job as Country Director of the company effective 1st July 2021.
“Ms Kilpin has a Bachelor of Commerce degree from the University of Johannesburg and joined South Africa Breweries in 2004 as a Sales Representative, progressing to Formal on-Premise Channel Manager before working under AB InBev as Regional Director, Trade Marketing Director – South Africa before moving on to her current role as Innovation Director – Africa Zone for AB InBev”.
Michelle now takes over the challenging task of inspiring a brewer in uncertain times that experiencing continuous disruptions in the supply chains and ultimate consumer demand that is quintessential to driving sales for the liquid product.