Irn-Bru manufacturer AG Barr has revealed its 58-year-old chief executive, Roger White, is to retire from the company within 12 months after more than 21 years at the helm.
It said: “The board will immediately commence a formal succession process, including an external search, to ensure a smooth leadership transition.”
The announcement came as AG Barr said revenue for the first half of its financial year is expected to be around £210m, up from £157.9m in the same period of the prior year.
Revealing the change at the top, AG Barr said: “Chief executive Roger White has agreed with the board that he will, at a mutually agreed date in the next 12 months, step down from his role as CEO, resign as a director of the Company and retire from the company.”
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Mr White, who was appointed managing director of AG Barr in 2002 and became chief executive in 2004, said: “It has been a privilege and pleasure to lead the business for over two decades and now the time is right to plan for my succession and to ensure the continued success of the business. I would like to pay tribute to everyone across the whole organisation who make AG Barr a very special place with amazing brands.”
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Mark Allen, chairman of AG Barr, said: “Roger has served the shareholders, board, wider business and industry for over 21 years - this makes him one of the longest-serving CEOs in the UK public market.
"He has supported the transformation of the business from a regional soft drinks business into a highly successful multi beverage, branded company that has delivered significant value to shareholders, stakeholders and employees. AG Barr has a strong culture and momentum and is strategically well placed to continue to deliver for the long term”.
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AG Barr said of its first-half trading performance: “This represents [circa] 33% year-on-year revenue growth – [circa] 10% on a like-for-like basis excluding the contribution from the Boost Drinks business acquired in December 2022.”
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