Former AG Barr CEO Roger White has u-turned on a decision to retire in order to become CEO of C&C Group.
White, who stepped down as boss at AG Barr after 22 years this year, will take up the job at C&C Group from 20 January 2025. Currently he acts as a non-executive director at Warburtons, and is also chair of Beatson Cancer Charity.
He was “an accomplished business leader with over two decades of PLC main board experience alongside deep consumer goods and drinks sector expertise”, said C&C Group in a statement today (12 December).
As CEO of C&C Group, White would receive an annual base salary of £650k, a one-off long-term incentive plan grant of 150% of base salary (£975k) and a maximum annual bonus opportunity of 125% of salary, the Bulmers supplier added.
“I am delighted to announce our recruitment of Roger and look forward to welcoming him to C&C and to the board,” said C&C Group chair and current CEO Ralph Findlay. “An acknowledged high-calibre leader, he will bring an exceptional combination of extensive branded drinks sector expertise, understanding of our markets and a proven track record of delivery.”
White himself added: “It is an exciting time to be joining the business. C&C has a unique business model, great brands and a committed team, with the potential to create significant long-term value. I look forward to working with the board and the wider team to lead C&C through the next phase of its development.”
The hire comes at what C&C Group hopes will be the end of a turbulent period for the vertical drinks supplier and distributor.
In June, CEO Patrick McMahon stepped down over historic accounting errors during his time as CFO which led to its full-year accounts being delayed.
In its delayed accounts, C&C Group reported a sharp drop in profits in the year to February following disruption linked to a botched IT upgrade in its distribution business.
The two bombshells led to investor unrest, with shareholder Engine Capital urging the drinks group to consider selling up.
The Tennent’s supplier insists it is making progress on a return to profitability. In October it reported underlying operating profits increased 29% to €40.3m (£33.2m) in the six months to 31 August.
The business was on track to achieve €80m in operating profits for the full year despite revenues sliding by 3%, it said.
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