Nichols has announced two changes to its board, whereby its executive chairman continues the role in a non-executive capacity and its finance director is promoted to chief executive.

The soft drinks company said on Wednesday (21 November), that it has accepted John Nichols' request to move from his role of executive chairman to non-executive chairman. Brendan Hynes, previously finance director, will become the group's chief executive with immediate effect.

Nichol's will remain executive chairman until a new finance director has been appointed and both he and Brendan have "settled into their new roles". This is likely to be early next year, the company said.

Nichols said: "Brendan has been instrumental in the successful re-shaping of the Nichols group over the last four years and his knowledge, drive and experience will be a great asset in leading the business into the next stage of its development and growth."

Earlier this year, Nichols brought discussions in relation to a possible takeover of the company to an end. Sources close to the situation had suggested that AG Barr was thought to be in talks with the Nichols family over a potential acquisition of the Vimto owner.