C&C appoints new chairman
C&C Group, the maker of Bulmers cider, appointed a former head of Scottish & Newcastle Plc as its chairman, just over a year after it tapped three other managers from the UK brewer.
Brian Stewart, a former chief executive officer and chairman of Scottish & Newcastle, will replace Tony O’Brien as non-executive chairman when he retires in August, C&C said today in a Regulatory News Service statement.
Stewart, 64, led Scottish & Newcastle’s international expansion into India and China and the acquisitions of Kronenbourg and British cider maker HP Bulmer.
In November 2008, C&C appointed three former Scottish & Newcastle managers, including John Dunsmore as CEO.
Under Dunsmore, C&C has taken control of Scottish beer brand Tennent’s and UK cider brands including Blackthorn and Gaymers.
The appointment “will give further weight to C&C’s increasing UK focus and, eventually, diversification into other markets,” Goodbody Stockbrokers analyst Liam Igoe said in a research note. Goodbody has a “buy” recommendation on the stock.
Stewart, also a former Standard Life Plc chairman, will become chairman designate and a non-executive director of C&C from March 9, and will succeed O’Brien at C&C’s annual meeting on August 5.