This article first appeared in The Edge Financial Daily on March 13, 2019

KUALA LUMPUR: Theodoros (Ted) Akiskalos has been appointed managing director (MD) of Carlsberg Brewery Malaysia Bhd effective May 1, replacing Lars Lehmann who has been promoted to executive vice-president for Eastern Europe at Carlsberg A/S.

Lehmann’s new role includes being the chief executive officer (CEO) of Baltika, Carlsberg Group’s company in Russia. Akiskalos, 40, is currently the MD of Carlsberg Sweden since June 2016.

In a statement filed with Bursa Malaysia yesterday, Carlsberg Malaysia said Lehmann joined Carlsberg Group in 2003 as the regional CEO for Western Europe challenger markets. He was overseeing 11 European markets before being appointed MD of Carlsberg Malaysia in June 2016.

“Lars has delivered outstanding results for our Malaysia and Singapore operations over the last three years. Under his leadership, the Malaysia business saw a record performance in 2018 with top- and bottom-line growth in all four quarters [of the year], while our Singapore operations saw a successful turnaround and are now accelerating growth,” said Carlsberg Malaysia chairman Datuk William Toh Ah Wah in the statement.

For the financial year ended Dec 31, 2018 (FY18), Carlsberg Malaysia posted a record net profit of RM277.15 million, up 25.3% from RM221.17 million for the previous year, on strong sales in the Malaysia operations. Revenue rose 12.1% to RM1.98 billion from RM1.77 billion for FY17.

Carlsberg Malaysia also declared a record total dividend payment of RM1 per share for the year following the record performance.

Akiskalos, meanwhile, has been with Carlsberg Group for nine years. “Ted has delivered excellent results in driving growth and leading various transformational projects. Under his leadership as MD, Carlsberg Sweden returned to growth in the top and bottom lines in all categories of beer, soft drinks and water, while Carlsberg Hong Kong became the market leader and grew profits significantly,” Toh said.

Before joining Carlsberg Group, Akiskalos was the associate principal of McKinsey & Co based in Boston, the US.

“Carlsberg Malaysia’s board of directors, management and employees express their heartfelt thanks to outgoing MD Lars Lehmann and extend their warmest welcome to the newly appointed MD Ted Akiskalos,” added Toh.