Promasidor Nigeria names Einarsson as new Managing Director

Promasidor Nigeria Limited announced on Tuesday the appointment of Mr. Anders Einarsson as its new Managing Director, taking over from Mr. Olivier Thiry, who has now been moved up to the chief executive officer position.

A statement from the company, said that until his elevation, Einarsson served the organization diligently as chief operating officer (COO). He joined PNG in 2013 as Strategy Director and was later promoted to the Finance Director position.

As Finance Director, he inspired a first class department, leaving a strong legacy for his passionate and committed team.

Einarsson has extensive experience in Nigeria and other emerging markets, having worked across Africa and Russia for the last 15 years, in various corporate finance and investment related roles. Prior to his appointment by Promasidor Nigeria Limited, he was a Partner at a Johannesburg-based private equity fund manager, being responsible for deal origination and execution in West and Central Africa.

Announcing the appointment of the Managing Director, Thiry says excitedly in the statement: “He (Einarsson) will focus on moving Promasidor Nigeria business forward in these very exciting times.”

Promasidor was founded in 1979 by Robert Rose, a British citizen who began selling milk powder in small, affordable sachets in the Democratic Republic of Congo (DRC) and the company has since grown to include other products and spread to 36 African countries. The company had net sales of about $673 million in fiscal 2015 and employs approximately 4,000. The company mainly operates in five countries: Nigeria, Algeria, Ghana, the Democratic Republic of Congo and Angola but distributes in others.

In November 2016, Japanese food and ingredient manufacturer, Ajinomoto bought a 33% stake in Promasidor at a cost of $532m (approx. ¥55.8bn yen), giving it access to Promasidor’s distribution network in Africa.

Promasidor produces, distributes and markets quality range of products such as Cowbell milk, Loya milk, Miksi milk, Top Tea, Onga seasoning, among others bringing joy to millions of consumers across the country.

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