Drinks group C&C said its chief executive David Forde is to step down after three years in the position.
Patrick McMahon, the company's Group CFO, has been appointed Group CEO with immediate effect.
Ralph Findlay, Chair of the group, has been appointed Executive Chair to support the management transition as Patrick McMahon will also retain his responsibilities as CFO until a new CFO is appointed.
The process for this will start shortly, the company added.
In a statement, David Forde said it was a privilege to lead such a great business as C&C.
"I am grateful to all C&C colleagues for their dedication, resilience and commitment in recent years. I wish the group all the best for the future under Ralph's and Paddy’s strong leadership," he added.
"David has informed the Board that he believes that now is the right time for him to step down as CEO and to allow the business to go forward under new leadership," said Ralph Findlay, Chair of C&C.
"The Board recognises and thanks David for his contribution to the group throughout a challenging period for our industry," he said.
"As part of our ongoing succession planning we keep internal and external candidates for all key positions under review and we are pleased to have someone with Paddy McMahon's skillset and knowledge of the business to step into that role," he added.
C&C manufactures, markets and distributes branded beer, cider, wine, spirits and soft drinks across Ireland and the UK.
Its brands include Bulmers and Magners cider, Tennents and Five Lamps beer and Tipperary Water.
In a trading update today, C&C also said that one of its units had faced delays in time and costs to integrate a business management software, which is expected to have a one-off impact on the group's profit in fiscal 2024.
C&C said it had encountered significant challenges, in terms of time, cost and customer service, in the implementation of a complex Enterprise Resource Planning system upgrade in the Matthew Clark and Bibendum businesses in the UK.
It bought the Matthew Clark and Bibendum business in 2018.
C&C said the implementation process has taken longer and been significantly more challenging and disruptive than originally envisaged, with a consequent material impact on service and profitability within MCB.
It said that service levels had largely returned to normal levels by the end of March, but however continuing system implementation challenges, impacted by greater seasonal trading volume, saw a deterioration in service levels in April.
"An improvement through May is being achieved by investing in material additional cost and resources, ahead of a system fix being implemented to permanently restore service to normal levels," it added.
C&C said it expects a one-off impact of about €25m associated with the system disruption in FY2024, reflecting the cost associated with restoring service levels and lost revenue.
But excluding the impact on MCB, C&C said it is currently performing in line with management expectations for the full year and said it is confident in its medium and long-term strategy and prospects.
Shares in the company dropped in London trade today.
