Britain's Fever-Tree Drinks has announced that co-founder Charles Rolls plans to step down from his role as non-executive deputy chairman at the company's annual general meeting in June.
Rolls founded the premium tonic water maker in 2004 with chief executive officer Tim Warrillow and helped grow the company as a strong competitor to Coca-Cola's Schweppes, aided by the resurgence of gin in Britain.
Commenting on his departure, chairman of Fever-Tree, Bill Ronald, said, "As one of the co-founders of Fever-Tree, Charles's entrepreneurial vision and passion has been integral to the success of the company as it has grown to become the no. 1 premium mixer brand across the globe."
Charles Rolls described his association with the company as a co-founder as "an immensely satisfying 17 years of business life."
'Happy To Be Stepping Down'
He added, "While I am stepping down from the Board, I remain a great supporter and significant shareholder in Fever-Tree and am as passionate about the business as ever. Fever-Tree deals in a world of best before dates and I am happy to be stepping down before I reach mine."
He also thanked everyone involved in the company's success and said that the business has many exciting years ahead as it is in "robust health" and in the hands of a "fantastic team" led by an "an inspirational CEO in Tim [Warrillow]."
Co-founder and CEO of Fever-Tree Drinks,Tim Warrillow, said, "He is undoubtedly a great entrepreneur, he was one of the first to successfully breathe life into the premium gin category with Plymouth Gin and then of course Fever-Tree, so Gin & Tonic drinkers around the world owe him a great debt of gratitude."