Cadbury plc (“Cadbury”) yesterday held its first Board meeting following the demerger of Americas Beverages and today announces the appointment of Guy Elliott, currently Chairman of Cadbury’s Audit Committee, as Senior Independent Director when Roger Carr becomes Chairman on 21 July 2008. The Board also announces that Bob Stack, executive director and Chief Human Resources Officer, intends to retire at the end of the year and leave the Board at that time. The Board has commenced a search for two new non-executive directors, one of whom will be appointed Chairman of the Audit Committee.
Sir John Sunderland, speaking after his last Board meeting, said: “Following the demerger, I am very pleased to confirm that the new company is off to a strong start with revenues in the first half expected to be above the top end of our goal range and trading margins around 150 basis points ahead. This performance reflects the combination of increased marketing investment, higher pricing and successful early execution of our cost reduction initiatives.
“I’m delighted to be leaving the company in such good hands, with Roger Carr taking over as Chairman and Guy Elliott taking on the role of our Senior Independent Director. I wish Todd, the executive team and all our employees continued success and good fortune in the future.”
About Cadbury plc
Cadbury plc is the world's largest confectionery business with number one or number two positions in over 20 of the world's 50 largest confectionery markets. It also has the largest and most broadly spread emerging markets business of any confectionery company. With origins stretching back nearly 200 years, Cadbury's brands include many global, regional and local favourites including Cadbury, Creme Egg and Green and Black's in chocolate; Trident, Dentyne, Hollywood and Bubbaloo in gum; and Halls, Cadbury Eclairs, Bassett’s and the Natural Confectionery Company in candy.
About Guy Elliott
Guy Elliott, 52, was appointed to the Board of Cadbury Schweppes plc in July 2007. He is Finance Director of Rio Tinto plc and Rio Tinto Ltd. He has extensive international commercial and financial experience.
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