Andy Morton

Analysis - Nichols CEO succession “meticulously planned”

By | 13 March 2013

Nichols announced the CEO switch last week

Nichols announced the CEO switch last week

Marnie Millard's promotion to the head of Nichols has been in the making since she joined the company a year ago, an analyst has claimed.

The UK soft drinks maker announced last week Millard will take over from CEO Brendan Hynes in May. However, in a note today, analyst Investec said the move, a “surprise externally”, was “meticulously planned” after Hynes indicated he wanted to step down "some time ago".

The analyst added: “Marnie’s appointment last year (was) the first stage of the succession plan.”

Investec praised Millard's strong CV. Before joining Nichols as the MD of its UK soft drinks business, she was MD of Refresco, a European bottler of soft drinks. She also spent ten years at Macaw Soft Drinks, a division of Cott, and worked at Gerber, a market-leading juice manufacturer.

“Although she is not known to the City, we see no issues with the change,” the analyst said.

Meanwhile, Investec said a strong outlook for international markets and new opportunities in the domestic market mean Nichol's sales this year could increase by 5%. 

Sales growth in last week's full-year 2012 results were 9% overall.

Expert analysis

Carbonated Soft Drinks in the United Kingdom

Carbonated Soft Drinks in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the United Kingdom carbonated soft drinks market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Sectors: HR – personnel, Soft drinks

Companies: Nichols, Cott

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Analysis - Nichols CEO succession “meticulously planned”

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