The chief executive of CL Brands has resigned. Ian Bankier was appointed CEO of CL Brands, following the £50m takeover of his Burn Stewart Distillers group earlier this year.
However, the Scottish press reported today that Bankier has clashed with CL’s executive chairman, Lawrence Duprey since the deal was made. And despite an official line that Bankier has left “to pursue other career challenges,” it appears a power struggle at the top of the company was the real reason behind the resignation.
The Scotsman today quoted CL’s executive director for strategy Arnaud de Trabuc as saying: “It was all about philosophical differences between Ian and our chairman, who also happens to be the owner of the parent company.”
He added: “Recently, our chairman has decided that he wants to have more direct control in the running of the business, as it is mostly his money on the line. But there is not room for two people at the top.”
There appears to be no plan to replace the departing CEO, with Duprey taking on his responsibilities.
Bankier’s departure has brought into question the future of CL Brands’ position in Scotland.
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CL Brands was formed last year when the Trinidad and Tobago conglomerate CL Financial acquired Burn Stewart. Scotland became the global headquarters for the international drinks arm of CL Financial, with Bankier at the head. A flotation was talked about within five years.
Though Duprey will apparently not move to Scotland, the company has said CL World Brands will continue to be headquartered out of East Kilbride.
