Magners cider owner C&C Group has announced that Stephen Glancey has stepped down as CEO with immediate effect.
Glancey informed the company’s board that he wishes to retire and will be leaving the alcohol drinks manufacturer at the end of February.
Dublin-headquartered C&C Group, which also makes Tennent’s beer and Bulmers cider, said a search for Glancey successor “will commence shortly”.
Stewart Gilliland has been appointed interim executive chairman with immediate effect.
“The board would like to thank Stephen for his significant contribution to C&C over many years,” Gilliland said.
“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.”
C&C’s board has confirmed that trading across the group for the four months to 31 December 2019 has been in line with its expectations, including through the key Christmas trading period.
The company remains on track to deliver double-digit EPS growth for FY2020.
Operating under the Matthew Clark, Bibendum, Tennent’s and C&C Gleeson brands, the C&C Group supplies more than 35,000 pubs, bars, restaurants and hotels in the UK and Ireland.
© FoodBev Media Ltd 2019