Berger Paints Appoints Acting Managing Director

Rising from it’s 52^nd annual general meeting (AGM) held recently in Lagos, Berger paints Nigeria Plc has announced immediate appointment of Mr. Tor Nygard as it’s managing director in acting capacity.

In a statement coming from the paint company shortly after the Agm, it said, Nygard, a Norwegian, holds a bachelor of science degree in electrical engineering and MBA from university of south Dakota, USA with over 30 years work experience in the manufacturing and oil and gas sector, considerable international exposure in united state, Europe and Africa.

The statement noted further that the company had recently put a new management team in place to reposition the firm for improved performance. It said. “At the just concluded AGM, it was concluded that the company experienced series of fraud during the financial year 2011 due to failed leadership at the top management level and non compliance with laid down internal control systems in the company. In addition to the effort of the board on management restructuring, the company has equally put in place new policies which include zero tolerance on fraud, whistle blowing policy in accordance with the code of corporate governance, among others”. The company said, it has also embarked on construction of an ultra- modern commercial complex in the Federal Capital Territory- Abuja to widen it’s sources of income, and was already seeing the positive effect of the present repositioning initiatives as evidenced in it’s unaudited accounts as at May 2012.