Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Drinks

C&C Group To Incur One-Off Charge, Names New CEO

By Reuters
Share this article
C&C Group To Incur One-Off Charge, Names New CEO

Irish drinks company C&C Group has said that one of its units has faced delays in time and costs to integrate business management software, which is expected to have a one-off impact on the group's profit in the fiscal 2024.

The implementation of the Enterprise Resource Planning system in the Matthew Clark and Bibendum business was taking longer than expected, which is now expected to impact the units profitability, the company said in a statement.

Matthew Clark and Bibendum

C&C, which owns the Tennent's and Magners brands, acquired the Matthew Clark and Bibendum business in 2018.

The company, which manufactures and distributes branded beer, cider, wine, spirits and soft drinks across the UK and Ireland, expects a one-off impact of about €25 million associated with ERP system disruption in FY2024, it added.

New Chief Executive

In other news, C&C Group has said that David Forde has announced he is stepping down from the position of chief executive and will no longer serve as a director, effective immediately. However, he will remain available to ensure a smooth transition of responsibilities, the company added.

ADVERTISEMENT

Taking over the role of group CEO is Patrick McMahon, who currently holds the position of group CFO. To facilitate the management transition, Ralph Findlay, the chair, will assume the role of executive chair.

"It has been a privilege to lead such a great business as C&C," Forde commented. "I am grateful to all C&C colleagues for their dedication, resilience and commitment in recent years. I wish the group all the best for the future under Ralph’s and Paddy’s strong leadership."

News by Reuters, edited by ESM – your source for the latest drinks news. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.