Jordi Bel of NB Plc leads the highest paid CEOs in the consumer goods sector in Nigeria – Nairametrics

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Nigerian Breweries Plc CEO Jordi Borrut Bel is the highest paid CEO in the consumer goods sector in 2020 and also ranks 5th highest paid CEO in Nigeria.

According to information obtained from the financial statements of the 30 largest companies listed on the Nigerian Stock Exchange (NGX), the five highest paid CEOs in the consumer goods sector are:

Ravindra Singh Singhvi, Group Managing Director / CEO of Dangote Sugar Refinery Plc

Ravindra Singh Singhvi

Ravindra Singhvi ranks fifth in the top five with a total of N135 million in 2020. He has been appointed by the company’s board of directors as Group Managing Director / CEO of Dangote Sugar Refinery Plc , as of October 30, 2020.

Prior to his appointment, Mr. Singhvi was Acting Managing Director of Dangote Sugar Refinery Plc since June 18, 2019, after having served as COO of the company.

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Nestlé Nigeria
Mauricio Alarcon, CEO of Nestlé Plc

Mauricio Alarcon

The fourth highest paid CEO in the industry is Mauricio Alarcon of Nestlé Plc with a salary of 161 million naira at the end of 2020.

He was appointed Managing Director of Nestlé Central and West Africa Ltd effective September 1, 2020 by the leading multinational food and beverage processing conglomerate. Prior to his appointment, in 2016, he became the Managing Director of Nestlé Nigeria, the largest Nestlé operation in the region.


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Carl Raymond Cruz, Managing Director of Unilever Nigeria Plc

Carl Raymond Cruz

Carl Cruz is currently the third highest paid CEO in the consumer goods industry. At the end of 2020, he earned a total of 245 million naira as the company’s highest paid director.

The Board of Directors of Unilever Nigeria Plc has appointed Carl Cruz as the new Managing Director to take over the management and direction of the company effective February 1, 2020. Until his appointment, Cruz served as Chairman of the Company. ‘Unilever Sri Lanka.


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Baker Magunda, CEO of Guinness Plc

Baker Magunda

Baker Magunda is the current CEO of Guinness Plc with an emolument set at 255 million naira at the end of fiscal 2020.

He began his career in sales and marketing at Coca-Cola Sabco in 1991. He was appointed Director of Sales in 1996 before joining Diageo in 1999. At Diageo, he held several marketing positions before becoming General Manager of Diageo’s activities in Uganda, Kenya. , Cameroon. Before joining the Guinness Nigeria team, he was Managing Director of Diageo Ethiopia and Indian Ocean Markets.


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Jordi Borrut Bel, Managing Director of Nigerian Breweries Plc

Jordi Borrut Bel

Jordi Borrut Bel, Managing Director of Nigerian Breweries Plc, has his annual compensation set at 379 million naira. He was appointed Managing Director / CEO by the Board of Directors replacing Mr. Johan Doyer, his predecessor on January 22, 2018. He was previously Managing Director of the Heineken subsidiary in Burundi, Brarudi SA and member of the Board of administration of Bralirwa Limited, Rwanda, also a subsidiary of Heineken in Rwanda.

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