C&C Group CEO resigns
The chief executive of C&C Group, David Forde, has stepped down.
The company said today that Forde will cease to be a director with immediate effect.
The news comes as the Magners and Tennent’s owner announced it has “encountered significant challenges” with the implementation of an Enterprise Resource Planning (ERP) system upgrade in the Matthew Clark and Bibendum business unit.
“C&C currently expects a one-off impact of c.€25 million associated with ERP system disruption in FY2024, reflecting the cost associated with restoring service levels and lost revenue,” the company said.
Forde will hand the reins to group CFO Patrick McMahon. Meanwhile Ralph Findlay, chair, has been appointed executive chair to “support the management transition as Patrick McMahon will also retain his responsibilities as CFO until a new CFO is appointed”.
The company said Forde would remain available to handover responsibilities.
Findlay said: "David has informed the board that he believes that now is the right time for him to step down as CEO and to allow the business to go forward under new leadership. The board recognises and thanks David for his contribution to the group throughout a challenging period for our industry. As part of our ongoing succession planning we keep internal and external candidates for all key positions under review and we are pleased to have someone with Paddy McMahon's skillset and knowledge of the business to step into that role."