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UK: SABMiller chief exec to step down in 2013

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SABMiller has confirmed a string of senior management changes that will see chief executive Graham Mackay stand down next year.

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The company, which issued its FY trading update last week, said today (23 April) that Mackay, who joined the brewer in 1978, will be replaced by the current MD of SABMiller Europe, Alan Clark. Mackay will move to become non-executive chairman at SABMiller's AGM in 2013.

Prior to standing down, however, Mackay will also assume the chairmanship of the brewer from this year's AGM, to be held on 26 July, replacing Meyer Khan, who is set to retire. Khan has been with the brewer since 1966, becoming chairman when the company listed on the London Stock Exchange in 1999.

Alan Clark will be appointed as chief operating officer and as an executive director in July. Replacing Clark as head of SABMiller's European operations will be Sue Clark, the company's director of corporate affairs. Her successor will be announced "in due course".

Finally, John Manser, the senior independent non-executive director and chairman of the audit committee, will also assume the position of deputy chairman. This, and the appointment of Sue Clark, will also take effect from 26 July.

"The board has unanimously concluded that Graham Mackay is the outstanding candidate to succeed Meyer as chairman," said Manser. "Graham has 34 years of service with the group: he is highly regarded in the industry and among all stakeholders, and we firmly believe that he is the right person to lead the board and to represent SABMiller externally at the highest level."

To read SABMiller's official announcement, click here.


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