Directorate Change

RNS Number : 7709H

C&C Group Plc

10 November 2008

 



Board and Senior Management Appointments

CCR.I        CCR.L

Dublin, London, 10 November 2008: The board of C&C Group plc ('C&C' or the 'Group') is pleased to announce the appointment of John Dunsmore as Chief Executive Officer. John Dunsmore replaces Maurice Pratt who announced his resignation as CEO on 9 October, 2008.

The Group also announces the appointment of Stephen Glancey as Chief Operating Officer. Both John Dunsmore and Stephen Glancey join the C&C board with immediate effect. The Group further announces the appointment of Kenny Neison as Strategy Director.

All three appointees are former members of the senior management team at Scottish & Newcastle plc (S&N) which was taken over by a Heineken/Carlsberg consortium earlier this year. At S&N, John Dunsmore was CEO, Stephen Glancey was Group Operations Director and a member of the plc board, and Kenny Neison was a senior member of the group finance team with financial responsibility for Western Europe.  

The remuneration package of the three appointees will include a high element of share-based incentive. The scheme to facilitate this (which allows for other executives to participate) involves the issue of up to 16 million new shares at a price of €1.15, being the closing price on 7 November, 2008, a 10% initial capital contribution from participants and a market performance vesting condition. An EGM will be convened as soon as practicable to seek shareholder approval for the scheme.

Welcoming the appointments, Tony O'Brien, Chairman of C&C said "The calibre of these appointments represents a major achievement for C&C and presents the Group with a unique opportunity to address decisively the challenges it faces. John and his colleagues will bring a renewed impetus and momentum to the Group through fresh and innovative thinking, backed up by a wealth of experience in the international drinks industry, and a track record of building shareholder value."

Investors and analysts	Irish Media	International Media
Mark Kenny/Jonathan Neilan K Capital Source Tel: [phone] Email:  c&[e-mail]	Paddy Hughes or Anne Marie Curran Drury Communications Tel:    [phone] Email:    [e-mail]	Edward Orlebar or Marylene Guernier M Communications Tel: [phone] or   [phone] Email:    [e-mail]

NOTES TO EDITORS

John Dunsmore (49) is the former group Chief Executive of Scottish & Newcastle (S&N), a position he held until the joint acquisition of the business by Heineken and Carlsberg in April 2008. From 1996 he held a variety of senior management roles at S&N both in the UK and in Western Europe. John was appointed to the Board of S&N in October 2002 and as group Chief Executive in 2007.

Stephen Glancey (47) is a chartered accountant with experience in finance, sales and operations. He has worked with Ernst & Young, Whitbread and since 1992, S&N. In 2004, Stephen was appointed group Operations Director for S&N and had responsibility for manufacturing, distribution, R&D and procurement.

Kenny Neison (39) is a chartered accountant, qualifying with Ernst & Young. He joined S&N in 1996 where he held a number of senior financial positions including UK Finance Director , UK Strategy Director, and Finance Director for Western Europe in 2007.

About C&C Group plc

C&C Group plc is a leading manufacturer, marketer and distributor of branded beverages in Ireland and the UK. C&C manufactures the leading Irish cider brand, Bulmers, and the premium international cider brand, Magners, for export to the United Kingdom, the United States and Continental Europe. C&C also exports spirits and liqueurs, including the premium Irish whiskey brand, Tullamore Dew, to over 80 international markets.

 

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