Cadbury chairman to step down
Cadbury chairman Roger Carr today said he would step down after shareholders approved US food giant Kraft's £11.4 billion takeover.
Mr Carr led a vocal defence of the Dairy Milk maker during the five-month takeover tussle, forcing Kraft to up its bid for the business.
"Together we have fought an excellent defence campaign and delivered substantial value to Cadbury shareholders," the chairman said.
A leaving date for Mr Carr - who first joined the Cadbury board in 2003 - has yet to be determined.
Chief executive Todd Stitzer is also to leave after 27 years with the company, with chief financial officer Andrew Bonfield also departing.
Mr Carr has been no stranger to big deals during a lengthy corporate career, and was chairman of utility Thames Water when the company agreed a £4.3 billion takeover by Germany's RWE in 2000.
He is currently also chairman of British Gas parent Centrica as well as a non-executive director of the Bank of England.
Investors holding 71.7 per cent of Cadbury's shares backed the takeover yesterday, although the deal triggered protests at Westminster from unions and workers at the company's Bournville plant in Birmingham.
Kraft chairman and chief executive Irene Rosenfeld said the deal "will be good for the company, good for the UK and good for British manufacturing jobs".
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 Doctors remove 80 teeth from boy's jaw
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 4 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
- 5 Naomi Wolf reacts to Isis 'conspiracy theories' critism after she questions whether beheading videos are real
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
Syrian teenager Usaid Barho reveals how he escaped from Isis using a suicide vest
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Douglas Carswell tells Ukip to stop blaming foreigners as youth poll shows Nigel Farage is even less popular than Nick Clegg
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...