C&C shares sank by nearly 4.5% as investors reacted negatively to news that the drinks group is looking for a chief executive following the sudden departure of Stephen Glancey. C&C — chiefly known for twin cider brands Bulmers and Magners, as well as Tennent’s lager — will now be led, on an interim basis by chairman Stewart Gilliland. “He had the strategic foresight and confidence to effect the Matthew Clark transaction, which has transformed the equity story. The significantly-inflated bonus was due to him delivering on the acquisitions of distribution businesses Matthew Clark and Bibendum, which have helped transform C&C’s UK fortunes. C&C said it remains on track for double-digit earnings per share growth for the year.

Source: Irish Examiner January 16, 2020 19:52 UTC