Cadbury Chief Executives to Stand Down

Roger Carr announced today his intention to stand down as Chairman of Cadbury following Kraft Foods' decision to declare its offer for Cadbury unconditional. In addition, Todd Stitzer will also stand down as Chief Executive Officer of Cadbury following a 27-year career at the company. Similarly, Andrew Bonfield announced his intention to step down as Chief Financial Officer.

 

Commenting on his decision, Carr said: "It has been my great pleasure and privilege to chair Cadbury for the past two years, and I would like to thank Todd Stitzer, my fellow Board members and indeed all of my Cadbury colleagues for their valuable support and commitment in taking this great company forward in that period. Together we have fought an excellent defence campaign and delivered substantial value to Cadbury shareholders. In handing over to Irene Rosenfeld I wish her the very best as she takes on responsibility for continuing to build and develop what is indisputably one of the worlds greatest brands."

 

The effective dates of all three resignations are still to be determined.