Shares in Cadbury Schweppes fell 6p to finish on 700p yesterday after the confectionery giant revealed a major shake up of its businesses.

Cadbury Schweppes said it would cut 7,500 jobs by 2011, close 15% of its manufacturing sites, sell its beverages division and rename itself Cadbury.

“They have put forward a well argued strategy. The acid test is whether they can execute it,” an unnamed analyst told The Daily Mail.