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AG Barr appoints former Co-op boss as new CEO
Previously group chief executive of Saga, Sutherland is an industry veteran who has served as head of a number of fast-moving consumer goods businesses during his career and has served in senior roles at Coca Cola and Mars.
Commenting on his appointment, Sutherland said: “I am very excited to join AG Barr, which has a unique heritage, strong culture and exceptional brands. I look forward to working with the board and the wider business to continue to deliver significant value to shareholders, stakeholders and employees for the long term.”
Sutherland’s appointment comes four months after current chief executive Roger White announced he would step down from the board at the end of April 2024. White will remain available until the end of July to support a smooth leadership transition.
The next step in White’s career
AG Barr chair Mark Allen said: “It has been a great pleasure working with Roger, who has successfully led the business for over two decades and delivered significant value to shareholders, stakeholders and employees. We wish him well in the future.
“On behalf of the Board, I am delighted that Euan is joining AG Barr. He has substantial experience across several consumer-facing businesses and will be a strong addition to the Board. He is well placed to lead AG Barr through the next exciting phase of its development and to ensure the continued long-term success of the business.”
Today’s announcement coincided with the drinks manufacturer’s trading update for the 52 weeks ended 28 January 2024, which saw the group post an anticipated group revenue of £400m – up 26% on the previous year.
Adjusted profit before tax was expected to be £49.5m, up 13.8% on the prior year (2022/23: £43.5m) and slightly ahead of previous market expectations. This was mainly driven by soft drinks, despite wet summer weather that impacted third quarter market conditions.
Business growth
“All our teams across the group have worked hard to deliver an excellent overall performance,” said outgoing chief executive Roger White.
“This has been supported by continued brand investment, strong execution of our sales plans and progress across our supply chain improvement programme. We have positive momentum behind our brands and business as we enter the new financial year.
“This strong trading performance, coupled with the benefits already being delivered by our margin rebuild programme, has ensured we close the year with a strong profit performance and confidence in the group’s long-term growth strategy.”
Meanwhile, in other appointment news, plant-based food manufacturer THIS has announced the appointment of former Ella’s Kitchen boss Mark Cuddigan as its new CEO.
