AG Barr Said That CEO Roger Will Step Down
A.G. Barr has announced that 19-year-old CEO Roger White will step down within the next 12 months, and the company has begun the formal process of finding a successor.
White, 58, will step down as a director and retire from the Scottish company he joined in 2002 as managing director.
Under White, AG Burr enjoyed good results, benefiting from higher prices and strong business growth in its soft drinks division.
The company said it expects revenue for its first quarter, which ended July 30, to reach about £210 million (€245 million), representing an increase of 10% on like-for-like basis.
In a separate report, AG Barr said its annual earnings are forecast to be slightly above analyst expectations.
White said the company’s focus is on providing customers with great value and affordable products. Despite ongoing macro cost challenges, AG Burr had a strong first half.
The Group’s medium-term plans to rebuild its operating margins are well underway, including activities such as supply chain optimisation, cost control and capital improvements.
White added that they have a strong brand plan in place for the remainder of the year to ensure continued growth, and he is confident in the group’s long-term growth strategy.