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EABL finance director Tracey Barnes resigns

EABL Group finance director Tracy Barnes. PHOTO | FILE
Outgoing EABL Group finance director Tracy Barnes. PHOTO | FILE 

Beer maker East African Breweries Limited (EABL) has made two changes to its board, appointing a new group finance director to replace Tracey Barnes and hiring a former career banker as a director.

The beer maker Thursday said Ms Barnes, its regional finance head since January 2012, will leave the firm on September 30 to be replaced by Dr Geiszl Gyorgy, Diageo’s finance director for Russia and eastern Europe.

EABL said Ms Barnes had resigned from her position to take up another role within EABL’s parent firm, Diageo, in an undisclosed country.

Carol Musyoka, former chief operating officer at K-Rep Bank and corporate director of Barclays Bank of Kenya, was appointed an EABL director effective Thursday.

“The board is confident that the wealth of experience and commercial acumen that both Dr Gyorgy and Ms Musyoka have gained from their work experience thus far will stand them in good stead at EABL,” the brewer said in a statement.

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Dr Gyorgy joined Diageo in 2006 as the finance director corporate region and has over the years held other key management positions including group chief accountant.

Ms Musyoka, who writes a weekly column in this newspaper, also sits on the boards of listed infrastructure firm TransCentury and cigarette maker British American Tobacco.

She is also on the board of trustees of SOS Children’s Villages.

The Master of Law degree holder from Cornell University in the US has previously served in the boards of BOC Gases, Enablis East Africa, and the Institute of Economic Affairs, among others.

“She currently provides consulting and training services for various local and international commercial banks and insurance firms and is also a popular weekly columnist on the Business Daily newspaper,” EABL said in its statement.

Dr Gyorgy and Ms Musyoka join EABL at a time when it has just reported a 40 per cent growth in full-year profit to Sh9.6 billion helped in part by the sale of land and cost-cutting measures.

The brewer’s revenue during the year to March rose to Sh64.42 billion from Sh60.75 billion posted in 2014.

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