Drinks group C&C has appointed Roger White as its new chief executive from January 20 next year after his predecessor stepped down earlier this year following accounting errors at the company.
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, Tennent's and Five Lamps beer and Tipperary Water.
Mr White was formerly CEO of London-listed Irn-bru maker AG BARR from 2002 until May 2024. Before that he held several senior management positions at Rank Hovis McDougall Group (RHM) from 1987 to 2002.
C&C also said today that Ralph Findlay will return to the position of Non-Executive Chair following a short period of transition after Mr White joins the business.
Mr Findlay will also resume the role of Chair of the Nomination Committee at that time.
Roger White said it was 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," he added.
Mr While will receive an annual base salary of £650,000, a pension allowance of 5% of salary in line with the contribution available for the group's employees, a benefit allowance of 7.5% of salary and maximum annual bonus opportunity of 125% of salary.
C&C also said that a one-off LTIP grant of 150% of base salary will be made on appointment, with performance objectives linked directly to creating shareholder value.
Ralph Findlay, Chair of C&C Group, said he was delighted to announce the recruitment of Roger White and said he looked forward to welcoming him to C&C and to the Board.
"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," he said.
"His knowledge and insight will be of great relevance and invaluable to C&C as we continue the recent positive momentum underway within the business and progress our plans to deliver enhanced shareholder value," he added.
C&C said that accounting 'adjustments' were expected to be made in respect of inventory and balance sheet items.
Mr McMahon was Chief Financial Officer during the periods to which these adjustments relate and acknowledged that the relevant shortcomings occurred at a time when he had overall responsibility for the group's finance function.
