UK: Britvic confirms CEO retirement
The Fruit Shoot recall cost Britvic up to GBP25m
Moody, 55, who led the company during the costly Fruit Shoot recall, played a key role in developing the merger and continues to support it, Britvic said. AG Barr CEO Roger White will take charge of the newly-created company, Barr Britvic Soft Drinks.
“I would like to thank Paul for his significant efforts and the considerable part he has played in bringing this transaction to this point,” Gerald Corbett, Britvic's non-executive chairman, said. “His has been a long innings full of much success, and we wish him well.”
White said he has worked closely with Moody over the past weeks in realising the merger. “A combined business has been his absolute priority,” he said.
Moody was with Britvic for 16 years and CEO for ten. He helped take the company public in 2005, but was also in charge during the recall of Fruit Shoot bottles found to have a potentially dangerous cap design. The recall is estimated to have cost Britvic up to GBP25m (US$39.67m).
Just-drinks understands that Moody is retiring and will not be joining another company.
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