The CFO of Tennent’s lager owner C&C Group, Andrew Andrea, will leave the company to take up the same role at Domino’s Pizza Group.
Andrea (below), who also sits on the C&C board, will remain in post until the completion of the current financial year, with his departure planned no later than 13 March next year. The company said it has commenced the search for his successor as part of its succession planning process.
The CFO has been in the role for 18 months, having previously spent 22 years at Marston’s, where he held several roles, including CFO and CEO.
“Andrew joined the business during challenging times and has, through his experience and capabilities, played a significant role in the stabilisation and improvement of the business,” said CEO Roger White.
The Bulmers cider owner revealed the board update alongside its six-month results the end of August, when sales declined by 4% compared to the corresponding period a year ago. The UK-based group said the performance reflected “the impact of lower distribution revenues following the previously disclosed transfer of control of AB InBev off-trade beer distribution in the Republic of Ireland and the planned exit of some lower margin business in the period”.
Looking forward, C&C said it remains committed to investing in the business to support performance and growth, despite ongoing macroeconomic pressures.
Last year, the company outlined plans to recruit a new CEO after a raft of financial adjustments resulted in Patrick McMahon agreeing to step down. The company named White as his replacement in December.
