Pernod Ricard appoints Sola Oke as Managing Director for Africa

SOUTH AFRICA – Pernod Ricard Africa has appointed Sola Oke as its new Managing Director for Africa, effective March 2024.  

The selection of Oke aligns with Pernod Ricard’s commitment to rigorous, transparent, and merit-based recruitment processes. 

Oke brings over a decade of experience within the Pernod Ricard family, starting as Marketing Director in Nigeria in 2014.  

His transformative and collaborative leadership style has played a crucial role in driving the company’s growth across the African region, culminating in his most recent role as Managing Director for Pernod Ricard Nigeria and Western Africa. 

In addition to his industry expertise, Oke holds a master’s degree from the University of Manchester and Cardiff Business School, establishing himself as a visionary leader capable of navigating complex business landscapes. 

Pernod Ricard emphasized Oke’s vision for the company, stating, “His leadership will bolster the company’s commitment to portfolio prioritization, prestige acceleration, and pricing power, driving sustainable growth while embedding brands in popular culture and embracing digital transformation.” 

Oke’s strategic approach focuses on seizing present opportunities, particularly in burgeoning sectors, and leveraging strategic partnerships to fuel future growth. His leadership aims to enhance the company’s commitment to portfolio prioritization, prestige acceleration, and pricing power. 

Pernod Ricard has been proactive in promoting sustainability through its supply chain. In 2023, the company partnered with GDED to create a sustainable environment for artisans, establishing workshops across Gauteng, aiming to accommodate approximately 100 makers in the next five years and creating up to 1,000 new jobs. 

In the half year 2024, the company reported a 7 percent organic decline in sales to US$7.2 million, with a negative FX impact of US$629.4 million mainly linked to the US dollar, Turkish lira, Chinese yuan, and Argentinian peso. 

Alexandre Ricard, Chairman and Chief Executive Officer, reflected on the company’s recent performance, stating, “We delivered a robust performance in the first half of the year, confidently steering Pernod Ricard through the normalization of the spirits market, following two years of outstanding growth.” 

Looking ahead to 2024, the company forecasts organic operating margin expansion, anticipating low-single-digit growth in organic operating profit. 

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