KUALA LUMPUR (March 12): Theodoros (Ted) Akiskalos has been appointed the managing director of Carlsberg Brewery Malaysia Bhd (Carlsberg Malaysia) 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 the position as 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 today, Carlsberg Malaysia said Lehmann joined the Carlsberg Group in 2003 as regional CEO for Western Europe Challenger Markets.

He was overseeing 11 European markets prior to his appointment as 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 had a record performance in 2018 with top- and bottom-line growth in all four quarters, while our Singapore operations have successfully been turned around 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 record net profit of RM277.15 million, up 25.3% from RM221.17 million in the previous year, on strong sales in the Malaysia operations. Revenue rose 12.1% to RM1.98 billion from RM1.77 billion in 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 the 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 top- and bottom-line in all categories of beer, soft drinks and water whilst Carlsberg Hong Kong became the market leader and grew profits significantly,” Toh said.

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

"The board of directors, management and employees of Carlsberg Malaysia express their heartfelt thanks to the outgoing MD Lars Lehmann and extend their warmest welcome to the newly appointed MD Ted Akiskalos," said Toh.

At 2.05pm, Carlsberg Malaysia shares were traded up 6 sen or 0.23% at RM25.80, with 91,700 shares done, bringing a market capitalisation of RM7.94 billion.