DENMARK: Royal Unibrew chief quits, forecasts lowered
The CEO of Danish brewer Royal Unibrew has resigned.
In a statement released yesterday (30 September), the company confirmed that Poul Møller has tendered his resignation and will leave with immediate effect.
No specific reason was given for Møller's departure by Unibrew, and no-one was immediately available for further comment on the move at the brewer, when contacted by just-drinks today. Earlier this summer, however, the company posted a DKK16m (US$3m) loss before tax for the first six months of 2008, compared to a profit of DKK37.5m in the corresponding period a year earlier.
Møller will be replaced on an interim basis by company CFO Ulrik Sørensen, until board member Henrik Brandt fills the position on a permanent basis from 1 November. Since 2003, Brandt has been managing director for Denmark-based medical group Unimedical, but stepped down from this position last month, following transfer of ownership to the US-based company ConvaTec. Previously, Brandt was group director of Skandinavisk Tobakskompagni and group chief executive of Sophus Berendsen. Since 1998, he has also held a position on the board of Unibrew.
At the same time, Unibrew also said that it was cutting its full-year outlook. Profits before tax and special items are now expected to come in between DKK180m and DKK200m for 2008, compared to the previous forecast of between DKK220m and DKK260m.
Profits before tax but after special items is now expected to reach between DKK110m and DKK130m, compared to the DKK170m to DKK210m estimate previously issued.
Danish brewer Royal Unibrew has sold its Koszalin brewery in Poland to Polish brewer Van Pur, as part of a restructuring plan....
Royal Unibrew has posted a significant drop in pre-tax profit for 2008, despite an increase in revenue....
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