CANADA: Big Rock Brewery CFO quits
The CFO of Big Rock Brewery is to stand down.
The Canadian brewer confirmed yesterday (1 October) that Timothy Duffin will leave the company at the end of this year. Duffin, who is also the vice president of finance, is resigning "to pursue other interests", Big Rock said. He will continue to provide "advisory and consulting services in 2008, as required", the brewer noted.
"Mr. Duffin joined Big Rock as chief financial officer in 2000 and his energy and expertise has been instrumental in Big Rock's success to date," said Big Rock's president and CEO Ken Barbet.
The brewer has subsequently begun the search for a new CFO.
Last month, Big Rock posted a marked fall in net income for the first half of this year, as it repositioned its craft beers as premium brands by reducing its promotional giveaways. Net income for the six-month period dropped to C$2.64m (US$2.5m) from C$3.8m in the corresponding period a year earlier, while sales held steady at C$18.82m compared to C$18.87m.
Sectors: Beer & cider
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