The former Scottish & Newcastle (S&N) CEO John Dunsmore is to take up the reins at Irish cider maker C&C – the home of Magners and Bulmers Original.
Two of his former colleagues at S&N, Stephen Glancey and Kenny Neison, will join Dunsmore at C&C, as chief operating officer and strategy director respectively.
The S&N Group – brands of which included Foster’s, Kronenbourg and Newcastle Brown Ale – was broken up in April this year and sold in parts to continental brewers Heineken and Carlsberg. Dunsmore is to use some of the £3 million pay off he received from that deal to set up a €1.5m “quasi private equity” package with his two new comrades which will see the three buy 16 million shares in the firm. Dunsmore’s salary will mirror his predecessor Maurice Pratt’s of just under £600,000.
“The calibre of these appointments represents a major achievement for C&C and presents the Group with a unique opportunity to address decisively the challenges it faces,” said Tony O’Brien, C&C Chairman. “John and his colleagues will bring a renewed impetus and momentum to the Group through fresh and innovative thinking, backed up by a wealth of experience in the international drinks industry, and a track record of building shareholder value.”