16th Jan 2020 09:26
(Alliance News) - C&C Group PLC said Thursday it expects to deliver a double-digit rise in earnings per share for its current financial year, following robust trading over a four-month period.
The Irish cider and beer maker also announced Chief Executive Officer Stephen Glancey will step down from his role with immediate effect, and then leave the company at the end of February.
C&C has started the search for a successor, however the group has appointed Non-Executive Chair Stewart Gilliland as interim executive chair with immediate effect.
Glancey has been CEO at C&C for eight years since 2012, and has been part of the group for 12 years since 2008, starting as chief operating officer.
For the four months to the end of December, C&C said trading was in line with management expectations, including throughout the key Christmas trading period.
"The board would like to thank Stephen for his significant contribution to C&C over many years. The company is well positioned to continue to implement its established strategy to deliver value for shareholders and Stephen will continue to be available to help facilitate a smooth handover," Gilliland said.
Shares in C&C Group - which is based in Dublin - were down 2.4% at 393.00 pence on Thursday morning in London.
By Dayo Laniyan; [email protected]
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