John Dunsmore will step down as chief executive of C&C Group at the end of the year.
He will be succeeded at the helm of the Magners maker by Stephen Glancey, currently chief operating officer and finance director. Strategy director Kenny Neison moves across to the finance director role.
Dunsmore, the former boss of Scottish & Newcastle, came on board at C&C in late 2008. He presided over a turnaround in fortunes for the group’s flagship cider brand, which returned to growth in 2010 after several years in the doldrums. He also oversaw deals including the acquisition of Tennent's in 2009, taking C&C into lager for the first time.
The announcement was made as C&C unveiled a 7.8% rise in operating profits for the first half of the year to €67.4m (£59.1m).
The company warned that poor weather added to the challenge of low consumer confidence in a “tough” second quarter. But it remained confident of meeting existing profits targets of between €108m and €115m for the year as a whole.
“On behalf of the board, I would like to thank John for leading an executive team that over the last three years has delivered a substantial turnaround of C&C and transformed the group during a period of worldwide economic turbulence,” said C&C chairman Sir Brian Stewart.
Renewed thirst for Magners sweetens C&C profits (18 May 2011)
Magners back in growth for first time in three years (12 October 2010)
Hot Topic: Dunsmore sheds 'timid' tag with Tennent's move (29 August 2009)