9th Jul 2020 10:59
(Alliance News) - C&C Group PLC on Thursday said it has hired David Forde as chief executive officer and named Patrick McMahon as successor to current Chief Financial Officer Jonathan Solesbury .
The FTSE 250-listed drinks manufacturer & distributor said Forde will join the company at the latest in early 2021 from brewer Heineken NV, where he has served as managing director of Heineken UK for the past seven years.
C&C said that upon Ford's commencement of the role, Stewart Gilliland will revert to the role of non-executive chair and will remain in the supervisory position until the annual general meeting in 2022. Gilliland was appointed chair in 2018 following the retirement of Brian Stewart.
Separately, the Dublin-based company said it has named Strategy Director Patrick McMahon as chief financial officer. He will succeed Jonathan Solesbury who is retiring on September 1. Solesbury will step down from the board at the AGM on July 23 but will remain with C&C until September to facilitate an orderly transition.
"The board is delighted to announce David Forde as our new group CEO. We believe David has the requisite blend of brands, distribution and pub sector expertise to maximise the potential of our iconic brands and optimise the potential of our distribution capabilities," said Gilliland.
"In Patrick, we have a group CFO with an inimitable understanding and experience of our business. His progression through senior leadership positions within the business and integral role in the transformative Matthew Clark and Bibendum transaction make him the natural successor to Jonathan and ideal fit for this position. The board would like to thank Jonathan for his significant contribution to C&C over the past three years and we wish him well for the future," he added.
C&C shares were trading 3.5% higher at 237.00 pence each on Thursday morning in London but are 42% lower than at the start of the year.
By Ife Taiwo; [email protected].
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