Magners maker C&C hires former Irn Bru boss Roger White for top job
Mr White, who led Irn Bru firm AG Barr for 22 years until May, will take on the role on January 20.
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Mr White – who led Irn Bru firm AG Barr for 22 years until May – will take on the role on January 20.
C&C said Ralph Findlay will then return to the post of non-executive chairman, having taken over the top job on an interim basis after Patrick McMahon quit abruptly in June in the wake of accounting errors which cost the firm millions of pounds.
Mr McMahon stepped down after C&C said it had found failures in the company’s accounting and that opportunities had been missed to spot and address issues.
C&C has a unique business model, great brands and a committed team, with the potential to create significant long-term value
He had only been in the post for a year, having been promoted from finance chief to replace David Forde, who had overseen the implementation of a botched IT system.
Mr Findlay said Mr White was an “acknowledged high-calibre leader”.
He added: “He will bring an exceptional combination of extensive branded drinks sector expertise, understanding of our markets and a proven track record of delivery.
“His knowledge and insight will be of great relevance and invaluable to C&C.”
At C&C, Mr White will be paid £650,000 a year as a base salary, plus pensions and benefits, and a potential £812,500 a year in performance-related bonuses.
Mr White said: “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.”
C&C, which is headquartered in Dublin, Ireland, will be hoping for stability at the top after a difficult past two years.
It took a 17 million euros (£14 million) hit to profits from past years from the accounting errors that led to the departure of Mr McMahon.
Mr McMahon said on stepping down that he acknowledged “relevant shortcomings” that had happened at a time when he had overall responsibility for the group’s finance function, adding it was therefore “in the best interests of the group” for him to leave, C&C said in June.